BMW, Toyota Announce Joint Sports-Car Development
Fuel-cell and electric technology sharing also part of the deal
This announcement is an expansion of sorts on the agreement between the two automakers, announced in March, that outlined BMW's supply of proprietary diesel engines to Toyota in exchange for the latter's expertise with lithium-ion battery research.
According to Automotive News, the manufacturers "said they signed an agreement that allows 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." BMW's previous ties with General Motors on fuel-cell development, as well as with PSA/Peugeot-Citroen on hybrid powertrains, are being severed, according to the German automaker.
However, Toyoda said, the partnership is not designed to combine the companies in any way. Speaking to reporters after the press conference, Toyoda said the two manufacturers "are not coming together to become bigger," and they likewise are "not coming together to form capital ties."
BMW's full press release on the partnership can be found here; Toyota's here.
[Source: Automotive News.]
Considering that there are many American sports cars and muscle cars on the road with quality that either meets or exceeds the Japanese and performance/handling that either meets or exceeds the Germans for less money then either, I don't think they have too much to worry about.
But a little extra competition is good for everyone, so overall this is good news.
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