Toyota, BMW To Develop Greener Car Battery
"Toyota is the leading provider of environment-friendly series technology in the volume segment and the BMW Group is the most innovative and sustainable manufacturer of premium automobiles," said Norbert Reithofer, chairman of the board of management of BMW, in the statement.
BMW will supply Toyota with 1.6L and 2.0L fuel efficient diesel engines. The engines will be installed in certain Toyota-produced vehicles to be sold in Europe.
Businessweek reported that Toyota has struggled to find a good lithium-ion battery for its green cars and is using technology from Japanese electronics maker Sanyo Electric Co. in its latest plug-in hybrid.
Toyota President Akio Toyoda said in the statement that the company is thrilled to enter into the collaboration.
"In the spirit of contributing to furthering the development of the auto industry and society, both companies will bring their wide-ranging knowledge - starting with that concerning environmental technologies - to the table and make ever-better cars," Toyoda said.
Reach executive producer Agnus Dei Farrant here.
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