BMW Group and Toyota Motor Corp. have announced that they will partner up to create revolutionary “lithium-air” batteries for eco-friendly vehicles.
The lithium-air batteries will be more powerful and efficient than the lithium-ion batteries commonly seen on the market today. The automakers hope to produce the batteries for a lower cost, which is all a part of their plan to complete a fuel-cell vehicle by the turn of the decade.
“In order for FCVs (fuel cell vehicles) to become more widely used, it needs to be cheaper. That would require a great deal of time and cost for development,” said Takeshi, Uchiyamada Toyota Vice Chairman, in a statement.
By working together, both companies can enhance the competitiveness for newer technologies, and reach their goal to produce greener vehicles faster. Both sides did reiterate that the partnership will not involve any type of capital alliance.
"We really share the same vision," said Herbert Diess, BMW AG board member, at a news conference.
Toyota and BMW are not the only automakers to forge partnerships in hopes of boosting the competitive market. French car maker PSA Peugeot Citroen and American based General Motors (News - Alert) Co. have a partnership to share purchases and of parts and services in hopes of cutting down costs. Toyota and Peugeot Citroen have their own partnership to produce small cars for European drivers.
Edited by Ashley Caputo