NewsApp (Free)

Read news as it happens
Download NewsApp

Available on  

Rediff News  All News  » Business » BMW, Toyota seal deal to deepen ties

BMW, Toyota seal deal to deepen ties

January 24, 2013 14:45 IST

HandshakeBMW will deepen cooperation with Japanese rival Toyota, expanding it to areas such as joint development of fuel cells, batteries and light-weight technologies, the German luxury-car maker said on Thursday.

BMW said in a statement ‘binding agreements’

signed with Toyota also foresee to jointly develop an architecture and components for sports vehicles.

BMW and Toyota Motor Corp last June agreed in a memorandum of understanding to extend their cooperation to a bigger strategic alliance in a challenge to global rivals as competition intensifies.

Andreas Cremer in Berlin
© Copyright 2018 Reuters Limited. All rights reserved. Republication or redistribution of Reuters content, including by framing or similar means, is expressly prohibited without the prior written consent of Reuters. Reuters shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.