BMW Group says it has signed a memorandum of understanding (MOU) with Toyota Motor Corp. (TMC) concerning a mid- to long-term collaboration on next-generation environmentally friendly technologies.
Under the MOU, the companies have agreed to research together next-generation lithium-ion battery technologies. In addition, Toyota Motor Europe (TME), TMC's European subsidiary, and BMW Group have entered into a contract under which BMW will supply 1.6 liter and 2.0 liter diesel engines to TME starting in 2014.
The engines will be installed in certain Toyota-produced vehicles planned for sale in the European market. Through this agreement, Toyota plans to expand its European lineup and sales of fuel-efficient, low-carbon-emission, diesel-powered vehicles, according to BMW Group.