Toyota nears final deal to license fuel-cell technology to BMW, report says
January 23, 2013
Toyota Motor Corp. is nearing a final agreement to license its fuel-cell vehicle technology to BMW, the Nikkei business daily reported.
Under the agreement, to be made official as early as Thursday, Toyota will provide the world's largest premium carmaker with drivetrain and hydrogen storage technology, the report said.
BMW will use the technology to build a prototype vehicle by 2015, with plans for a market release around 2020, the Nikkei said.
The two automakers have been expanding their r&d ties over the last year. In December 2011, they said they will work together on green car technologies, including the joint development of lithium-ion batteries. BMW would also supply diesel engines to Toyota in Europe as part of the tie-up, the companies said at the time.
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