The German luxury car maker BMW AG and The Japanese automobile giant Toyota Motor Corp. are reported to have created an alliance that will have the two exchanging engine technology and jointly developing lithium-ion batteries.
According to media reports, BMW would provide Toyota with diesel engines in exchange for hybrid technology, although it wasn't clear what types of hybrid technology would be shared. According to experts, it could help Toyota improve its market share in Europe.
It was also reported that BMW and Toyota have formed a partnership to develop lithium-ion batteries for EVs. It wasn't clear how and where the batteries would be used. BMW has already said that the batteries for its i3, due to be launched in 2013, will be supplied by a joint venture formed between Robert Bosch and Samsung, according to reports.
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