BMW and Toyota joined hands to develop new models while relying on each other's workforce and expertise to bring a drastic change in their product portfolios. Both the companies have inked a new deal on Friday that will outline the new partnership.
The deal highlights four major areas of cooperation;
- Joint development of a hydrogen fuel cell system
- The architecture for a new lightweight sports car
- Collaboration on electric powertrains
- Development of lightweight technologies
“Toyota is strong in environment-friendly hybrids and fuel cells… I believe BMW’s strength is developing sports cars,” Toyota CEO Akio Toyoda said in a statement. “I get so excited thinking about the cars that will result from this relationship.”
BMW’s leaders were also enthusiastic. “Both companies, Toyota and the BMW Group, aspire to be the best at everything they do,” chairman of the board Dr. Norbert Reithofer said in a statement. “I look forward to the continued cooperation between our two companies.”
Toyota has already been developing its cars in collaboration with other companies. It recently developed a sports car, the GT86/Scion FR-S, with Subaru. CEO Akio Toyoda is working on a strategy to build more interesting cars; and collaborating with major automotive giants is a quick way to achieve the company’s goals.
While looking at the occasional Lexus, Toyota hasn’t been successful in gaining customers' attention, and it eventually started designing sports cars instead of Camrys, which is indeed a big leap. Toyoda said working with BMW will be a fruitful experience because its cars run faster around Germany’s Nurburgring race track, and that he is always getting passed by them.
Details of the proposed sports car are yet to be revealed, but a car that tops the GT867/FR-S in price and performance seems logical and would become a good substitute for the long-departed Supra.
In addition, BMW is likely to adopt Toyota’s Hybrid Synergy Drive in its upcoming models. Although, the company already makes hybrids, but Toyota’s technology would ultimately enhance its performance.