SAY WHAT? Toyota And BMW To Jointly Build A New Sports Car Together!

BMW and Toyota Motor Corp. today said they will develop a sports car together and cooperate in fuel cell technology, powertrain electrification and lightweight technologies.

BMW CEO Norbert Reithofer and Toyota President Akio Toyoda signed an initial agreement at BMW's Munich headquarters to expand long-term strategic collaboration between the two automakers.

"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," Reithofer said in a statement.

PRESS RELEASE: BMW Group and Toyota Motor Corporation agree to further strengthen collaboration

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.

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Larrybel2000 - 6/29/2012 9:30:06 AM

+3 Boost

Great target. They need eachother for this and when done they will lead the market in this area and everyone else will have to play catch up.

Agent009 - 6/29/2012 10:20:01 AM

-2 Boost

This has potential. It gives BMW a partner similar to Audi/VW to share costs.

LexSucks - 6/29/2012 10:37:51 AM

-5 Boost

Toyota needs BMW's help to figure out how to make an affordable sports car that's faster than a Camry, BMW needs Toyota's help to learn how to cheapen things. Match made in heaven.

GG123 - 7/1/2012 4:09:49 PM

+1 Boost

Wow that's really funny. No only are you one bright intelligent dynamo (as evidenced by your excellent insightful posts), you also have unparalleled sense of humor.

bmwcs - 6/29/2012 11:23:57 AM

+3 Boost

Toyota and BMW are two of the most forward thinking, and agile companies in the auto industry. They both adapt to change and are proactive to future trends. Which allows both companies to lead the industry in their respective markets. Toyota has had hybrids on the market long before most manufactures, and currently lead the industry in sales of hybrid vehicles. BMW is years ahead of the other premium auto makers in bringing sustainable hybrid, and electric vehicles to the market, in a completely new way. With the clean sheet design of the I-brand that focuses on sustainability all the way through the production process, and value chain. Along with BMWs industry leading production processes for mass producing carbon fiber in a cost effective way out of their own plant they have in a joint venture with SQL . This will give them a competitive edge over the competition in terms of pricing, and accessibility to the material. This partnership will create a juggernaut for future EV/hybrid technology development, and manufacturing that should have the rest of the auto industry very worried.

800over - 6/29/2012 1:07:51 PM

+1 Boost

Those diesels won' be coming here though....

USNA1999 - 6/29/2012 1:31:39 PM

-2 Boost

This will be great as long as BMW does not use TOYOTA floor mats!

http://bottomline.msnbc.msn.com/_news/2012/06/29/12482378-toyota-to-recall-154000-lexus-suvs-to-fix-floor-mat?lite

It might just increase BMW's number of recalls. LoL!
Scion FRS a revelation? Really? Another Miata?

USNA1999 - 6/29/2012 1:44:53 PM

-1 Boost

Tiguan easy! I have owned an LS 460 for the last 4 years and just think its funny that we still have all these recalls. About BMW, owned one before and still like them. As for TOYOTAS, you can keep those appliances (except if the SUPRA is comes back).

USNA1999 - 6/29/2012 4:02:47 PM

+1 Boost

BD you are correct on this one (The "future sports car" will be known as the Toyota Supra and the BMW 4-series).

lexworld - 6/29/2012 10:00:55 PM

+1 Boost

hey LexSucks, U suck. BMW needs Toyota to show them how to make those cheap things, as u say, and find out how all those so called cheap things make their cars last longer and be more reliable than their expensive Bimmers. No put down to BMW, but there is more to learn from Toyota than the other way around. Beside, BMW dont make cheap sports cars and for the hp/$ neither does Mr. Toyoda, even with a weak Yen.

Willis - 6/29/2012 10:43:40 PM

-1 Boost

"No put down to BMW, but there is more to learn from Toyota than the other way around."

Uh, huh...

lexworld - 6/29/2012 10:03:41 PM

+1 Boost

...By the way Mr. LexSucks, dont blame Toyota for making that Camry SEV6 one butt kicking family car!!

Willis - 6/29/2012 10:43:21 PM

-1 Boost

Camry V6 a butt-kicking family car? Are you for real? 0-60 is not an indicator of a performance sedan. The Camry V6 might be fast in a straight line but it handles like crap which means no serious performance enthusiast would ever consider one.

lexworld - 6/30/2012 1:42:00 AM

+2 Boost

'''that's right keep on hatin them Camry's and Mr. Toyoda's takin notes and that is why this Co. stay's on top of their game. Consumer feedback, both the positive and the negative. I'm watchin u Willis and so are all these wise Toyota & Lexus owners. You and your buddies are just fueling the fire!

JUGNU - 6/30/2012 9:26:24 AM

+1 Boost

Is Lexus also included in the partnership? Would like to see really good Diesel Hybrids and EVs. I think upcoming cars like next Corolla, Yaris, BMW i3...etc will get the most benefit from these new jointly developed technologies.

GG123 - 7/1/2012 4:06:35 PM

+1 Boost

Hmmm...doesn't Toyota supposed to build the most "boring" cars and BMW the most "exciting"? Then why on earth would they want to partner with Toyota. What could be their motivation? What could they gain from this?

Maybe they know something these blind know-nothings that post here don't.