Japan's Toyota and Germany's BMW have further strengthened their relationship in environmental collaboration.
The two automanufacturers announced the signing of Memorandum of Understanding (MoU) to secure a long-term relationship for developing low carbon vehicle technologies. In particular, the collaboration will see the development of a fuel cell system and EV drivetrains as well as exploring fuel-saving technologies and a new sports car design.
The relationship between the two companies has been developing for some time. At the end of 2012 they signed a deal for BMW to supply diesel engines to Toyota Motor Europe, whilst more recently they agreed to collaborate on developing new lithium-ion battery cell technology.
The media conference included the announcement of the signing of a Joint Statement in which the two companies stated their intention to strengthen their "long-term strategic collaboration".