German automobile manufacturer BMW and Japanese automobile manufacturer Toyota have announced that they will be expanding a 2011 agreement between the two companies to share strategic technologies in four different areas. BMW and Toyota emphasized that they have no intentions of building stakes in each others companies. Both say they share the same strategic vision of sustainable individual future mobility and feel their alliance will only strengthen both companies competitive position in sustainable future technologies. The agreement includes:
- The joint development of a fuel cell system.
- The joint development of architecture and components for a future sports vehicle.
- Collaboration on power train electrification.
- Joint research and development on lightweight technologies.
The agreement will also end any further discussions of BMW working with General Motors and will eventually dissolve a joint venture with France’s PSA Peugeot Citroen to share components for hybrid cars.