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Not much is known about the latest partnership, but it aims to focus on lightweighting technology, powertrain electrification and a fuel cell system

BMW and Toyota are teaming up for an upcoming sports car as well as electric vehicle (EV) technology development.

Back in March, both automakers entered an agreement to develop next-generation lithium-ion batteries. They also agreed that BMW would supply 1.6 litre and 2.0 litre engines to Toyota Motor Europe in 2014. Now, the two have decided to join forces once again for other EV technology and a new sports vehicle.

"We aim to further strengthen our competitive position in sustainable future technologies," said Norbert Reithofer, chairman of the Board of Management for BMW. "We signed an MoU to this effect today. Toyota and the BMW Group share the same strategic vision of sustainable individual future mobility. Together we have a great opportunity to continue leading our industry through this transformation."

Not much is known about the latest partnership, but it aims to focus on lightweight technology, powertrain electrification, and a fuel cell system.

"BMW and Toyota both want to make ever-better cars," said Akio Toyoda, President of Toyota Motor Corporation. "We respect each other. And I think this is shown by our taking the next step only six months since the signing of our initial agreement. Toyota is strong in environment-friendly hybrids and fuel cells. On the other hand, I believe BMW's strength is in developing sports cars. I am excited to think of the cars that will result from this relationship."

Source: Autoblog

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