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Rediff.com  » 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
Source:
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