Toyota Motor Corporation (TMC), the Japanese auto maker, has decided to share its hybrid technology with the German luxury car manufacturer BMW AG. This attempt by the auto giant will intensify the legal agreement between the two, which started in December 2011 with a pact on electric car batteries and diesel engines.
In June 2012, the joint alliance of BMW with PSA Peugeot Citroen, the French car maker, to design the components of hybrid car seemed heading towards a failure. The main reason behind this unwanted situation was attributed to the combined venture among Peugeot and its European rival, Opel, a subsidiary of General Motors.
The President of Toyota, Akio Toyoda, and the Chief Executive of BMW, Norbert Reithofer, have decided to organise a press conference in Germany in the last week of June 2012. Reportedly, both the representatives will officially declare the commencement of their new project.
In December 2011, BMW expressed its consent to deliver diesel powertrains to the Japanese auto maker in Europe from 2014 and work together on the research of lithium-ion batteries used in electric cars. In order to effectively reduce emissions and maintain mileage standards throughout the world, these two globally renowned car makers are spending lavishly on the research and development.
Consequently, several big players are gearing up for collaborations with other auto makers, including Toyota and BMW's main rivals, Nissan Motor Co. and Daimler AG, besides Nissan's French partner, Renault SA.
