Toyota, BMW sign agreement
January 25, 2013 - 5:18:25 am
Toyota Motor Corp President Akio Toyoda (left) and BMW AG CEO Norbert Reithofer shaking hands during a press conference in Nagoya, central Japan. Toyota and BMW signed an agreement yesterday to jointly develop fuel-cell systems for vehicles, the two companies said. Fuel-cell vehicles are powered by a chemical reaction between hydrogen and oxygen. The firms will also cooperate in developing architecture and components for a sports vehicle, lightweight technologies and lithium-air batteries.