Two popular car manufacturers are ready to join forces to create a better future in automotive technology. On Friday, BMW (BIT:BMW) and Toyota Motor Corporation (NYSE:TM) (TYO:7203) signed an agreement that will require them to collaborate on several long-term technology projects and potentially create a new sports car.
Akio Toyoda, president for Toyota, stated that he thought BMW’s biggest strength was making sports cars. He also claimed that he was excited to see what happens with their project.
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It was just mere days ago that BMW and Toyota completed their discussions regarding a potential partnership to create fuel cells. The companies are still talking about other potential ventures.
Last March, the two companies signed up to collaborate on a research next-generation lithium-ion battery cell project.
BMW’s chairman Norbert Reithofer mentioned their plans to strengthen their competitive position for sustainable future technology. It all started last winter when the companies started a partnership that allow Toyota to use some of BMW’s small diesel engines and BMW could take some of Toyota’s hybrid technologies. Over the last few years, both automobile makers have made significant changes to make their cars more environmentally friendly. In 2011, Toyota introduced a plug-in version of the Prius hybrid car whereas BMW introduced both fully-electric and hybrid electric cars. These cars are expected to arrive in a few years.
It’s a rare thing to see two similar companies come together to create innovative technologies but that just what BMW and Toyota are doing. Their project is to create a brighter future for greener cars. It’s good to know that there are still companies out there that not only care about our environment, they’re also actively doing something about it. It’s only a matter of time until other automotive makers follow suit. I predict that in just a few years, hybrid vehicles will become standard and more automakers will sell a significant percentage of these types of cars.