Hoping to improve lithium-ion battery chemistries, and to share wealth regarding diesel technology as well, Toyota Motor Corp and BMW AG have reportedly begun joint research into next-generation batteries.
In this East-meets-West match, BMW stands to gain from Asia’s largest automaker which has pioneered and now dominates in the hybrid category – expertise BMW needs to stay competitive with Volkswagen AG’s Audi luxury car division.
Similarly, Toyota also wants to improve its position in Europe by expanding on its diesel engine lineup. BMW has agreed to supply Toyota Europe with oil-burning powerplants beginning in 2014, according to Automotive News.
BMW confirmed today that the two companies are now working under a formal memorandum of understanding based on a partnership first announced Dec. 1, 2011.
Both companies are technological powerhouses, and while today’s news is essentially about Europe, with U.S. growth in automotive electrification – and perhaps also diesels – in coming years this agreement could see benefits to products eventually delivered here.