(USA TODAY) Toyota and BMW announced a broad deal today to work on a platform for an eco-friendly high-performance sports car -- as well as to expand their battery tech deal signed last year to include tech sharing on electrified and fuel cell powertrains and weight-saving materials.
BMW also supplies Toyota with small diesel engines for the European market.
The new deal would give BMW access to Toyota expertise in electrified vehicles and Toyota access to BMWs strength in premium performance vehicles.
"BMW knows how to make a car perform," Toyota President Akio Toyoda said at a press conference with BMW chief Norbert Reithofer, at BMW's Munich HQ, reports Bloomberg News. "I am the one who is most looking forward to a sports car that is environmentally friendly."
"We aim to further strengthen our competitive position in sustainable future technologies," said a statement from Reithofer.
BMW is developing a line of electrified cars, called its "i" brand, and has invested also in the U.S. in lightweight carbon fiber technology. It has shown concepts for a carbon-bodied i3 small electric sedan and i8 hybrid sports car and said they will roll out 2013-14.
The Toyota-BMW link comes after BMW said this week that it was dropping talks with General Motors for tech sharing on fuel cells. The company also said it was reviewing its deal with Peugeot for small engines in light of GM's deal to buy a stake in the French automaker.