BMW Group and Toyota Motor Corporation agree to further strengthen collaboration
Companies sign MoU aimed at collaboration in four fields of technology
Tokyo/Munich. Akio Toyoda, President of Toyota Motor Corporation (TMC), met today with Norbert Reithofer, Chairman of the Board of Management of BMW AG, at BMW Group headquarters in Munich to announce the planned expansion of their existing cooperation initiated in December last year. The two companies signed a Memorandum of Understanding (MoU) aimed at long-term strategic collaboration in four fields: joint development of a fuel cell system, joint development of architecture and components for a future sports vehicle, collaboration on powertrain electrification and joint research and development on lightweight technologies.
Also today, Norbert Reithofer and Akio Toyoda of TMC both signed a Joint Statement to reconfirm their companies’ shared intention to strengthen the long-term, strategic collaboration between them.
Reithofer said: “We aim to further strengthen our competitive position in sustainable future technologies. We signed an MoU to this effect today. Toyota and the BMW Group share the same strategic vision of sustainable individual future mobility. Together we have a great opportunity to continue leading our industry through this transformation.”
Toyoda added: “BMW and Toyota both want to make ever-better cars. We respect each other. And I think this is shown by our taking the next step only six months since the signing of our initial agreement. Toyota is strong in environment-friendly hybrids and fuel cells. On the other hand, I believe BMW’s strength is in developing sports cars. I am excited to think of the cars that will result from this relationship.”
In March 2012, the BMW Group and TMC signed a binding agreement on collaborative research in the field of next-generation lithium-ion battery cells. In addition, the BMW Group and Toyota Motor Europe entered into a contract under which the BMW Group will supply highly-efficient 1.6 litre and 2.0 litre diesel engines to Toyota Motor Europe, starting in 2014.
Today’s MoU represents the companies’ agreement in December last year to identify and discuss other possible collaborative projects.
Toyota’s press release and the statement of Akio Toyoda are available at
www.toyota-global.com and http://corporatemedia.toyota.eu
If you have any queries, please contact:
BMW Group Corporate Communications
Micaela Sandstede, Business and Finance Communications BMW Group
Micaela.Sandstede@bmw.de, Telephone: +49 89 382-61611, Fax: +49 89 382-24418
Alexander Bilgeri, Head of Business, Finance and Sustainability Communications BMW Group
Alexander.Bilgeri@bmw.de, Telephone: +49 89 382-61611, Fax: +49 89 382-24418
Media website: www.press.bmwgroup.com
Toyota Motor Corporation
Media from the Americas, Europe or Africa: +81-3-3817-9926/9161
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The BMW Group
The BMW Group is one of the most successful manufacturers of automobiles and motorcycles in the world with its BMW, MINI, Husqvarna Motorcycles and Rolls-Royce brands. As a global company, the BMW Group operates 29 production and assembly facilities in 14 countries and has a global sales network in more than 140 countries.
In 2011, the BMW Group sold about1.67 million cars and more than 113,000 motorcycles worldwide. The profit before tax for the financial year 2011 was euro 7.38 billion on revenues amounting to euro 68.82 billion. At 31 December 2011, the BMW Group had a workforce of approximately 100,000 employees.
The success of the BMW Group has always been built on long-term thinking and responsible action. The company has therefore established ecological and social sustainability throughout the value chain, comprehensive product responsibility and a clear commitment to conserving resources as an integral part of its strategy. As a result of its efforts, the BMW Group has been ranked industry leader in the Dow Jones Sustainability Indexes for the last seven years.