The two companies yesterday signed an agreement based on the memorandum of understanding that was announced at the Tokyo motor show in December 2011.
The project focuses on improving technologies for next-generation batteries to power cleaner hybrid vehicles for both brands, with the aim to increase performance and capacity of lithium-ion batteries through new combinations of materials for cathodes, anodes and electrolytes.
The agreement will also see BMW supply Toyota's European division with efficient 1.6- and 2.0-litre diesel engines starting from 2014. Toyota Australia told CarAdvice late last year it would import BMW diesel-powered vehicles like the Corolla and Camry to Australia if they were made available to our market.
The partnership is seemingly a win-win for both manufacturers; BMW teams up with the biggest producer of hybrid vehicles to further its battery know-how and Toyota, Asia's largest carmaker, gains a new line-up of diesel-powered vehicles to broaden its appeal throughout Europe.