Toyota to supply hybrid technology to BMW

Tuesday, 26 June 2012 02:04 - - {{hitsCtrl.values.hits}}

TOKYO, (Reuters): Toyota Motor Corp plans to supply hybrid technology to BMW AG, deepening a partnership that began with a deal last December on diesel engines and electric car batteries, the Nikkei business daily reported on Monday.

This month, BMW’s joint venture to make hybrid car components with French auto maker PSA Peugeot Citroen was thrown into doubt by the prospect of deepening ties between PSA and its European rival Opel, a division of General Motors.

Toyota President Akio Toyoda and BMW Chief Executive Norbert Reithofer plan to hold a news conference in Germany this week to announce the new project, the paper said without citing sources.

Toyota was not immediately available for comment.

In December, the German premium car maker agreed to supply diesel engines to Toyota from 2014 in Europe and collaborate on lithium-ion battery research for electric cars.

Global automakers face ballooning research and development costs to meet tougher emissions and fuel-economy standards around the world.

This has accelerated cooperation deals among car makers, including Toyota and BMW’s main rivals, Nissan Motor Co and Daimler AG, along with Nissan’s French partner, Renault SA.