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BMW, Toyota eye close partnership - Der Spiegel

Source : REUTERS
Last Updated: Sun, Jun 24, 2012 14:30 hrs
(Blank Headline Received)

By Andreas Cremer

BERLIN (Reuters) - Bayerische Motoren Werke and Toyota Motor Corp are planning to expand cooperation beyond green car technology and diesel engines, Der Spiegel magazine reported on Sunday, without citing any sources.

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

Both companies have since been exploring other fields for cooperation and have now agreed several projects, Der Spiegel said without being more specific. BMW Chief Executive Norbert Reithofer and Toyota President Akio Toyoda will announce details in the near future, the magazine said.

A spokesman for Munich-based BMW declined to comment on the report.

Last week, 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.

(Reporting By Andreas Cremer. Editing by Jane Merriman)

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