Toyota and BMW to form alliance in fuel cell vehicle manufacturing
FRANKFURT/NAGOYA -- Toyota Motor and BMW will upgrade their partnership in fuel cell vehicles as the two auto giants see them as prospective next-generation eco-friendly models amid slowing growth in demand for electric vehicles, Nikkei has learned. BMW aims to begin mass production of a fuel cell vehicle model in a few years.
The Japanese and German companies are set to sign a memorandum of understanding for the partnership next week and announce it during BMW's media roundtable on Sept. 5.