Press Meeting BMW Group / Toyota Motor Corporation in Munich on 29 June 2012. From left: Akio Toyoda, President Toyota Motor Corporation; Dr. Norbert Reithofer, Chairman of the Board of Management of BMW AG. Courtesy of BMW Group

Tokyo, Japan and Munich, Germany - June 29, 2012

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.

Courtesy of BMW Group

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.

Courtesy of BMW Group

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.

Press Meeting BMW Group / Toyota Motor Corporation in Munich on 29 June 2012. Courtesy of BMW Group

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.”

Press Meeting BMW Group / Toyota Motor Corporation in Munich on 29 June 2012. From left: Akio Toyoda, President Toyota Motor Corporation; Dr. Norbert Reithofer, Chairman of the Board of Management of BMW AG. Courtesy of BMW Group

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.”

Press Meeting BMW Group / Toyota Motor Corporation in Munich on 29 June 2012. From left: Akio Toyoda, President Toyota Motor Corporation; Dr. Norbert Reithofer, Chairman of the Board of Management of BMW AG. Courtesy of BMW Group

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.

Press Meeting BMW Group / Toyota Motor Corporation in Munich on 29 June 2012. From left: Akio Toyoda, President Toyota Motor Corporation; Dr. Norbert Reithofer, Chairman of the Board of Management of BMW AG. Courtesy of BMW Group

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.

Press Meeting BMW Group / Toyota Motor Corporation in Munich on 29 June 2012. From left: Akio Toyoda, President Toyota Motor Corporation; Dr. Norbert Reithofer, Chairman of the Board of Management of BMW AG. Courtesy of BMW Group

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  

Courtesy of BMW Group

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  
Email: presse@bmw.de  


Toyota Motor Corporation

Media from the Americas, Europe or Africa:
+81-3-3817-9926/9161

Media from Asia, Oceania or the Middle East:
+81-3-3817-9182/9174


Source: BMW Group

https://www.press.bmwgroup.com/pressclub/p/pcgl/startpage.htm  



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