Toyota Motor Corp. and Bayerische Motoren Werke AG (BMW) are set to deepen their collaboration on fuel cell vehicle manufacturing, Nikkei Asia reported on Tuesday.
Under this enhanced partnership, Toyota will provide BMW with components like hydrogen tanks and fuel cell systems, which BMW will integrate with its own electric vehicle technology. This collaboration is also expected to reduce production costs and accelerate the mass production of BMW's iX5 Hydrogen, slated for a few years from now.
The two automakers reportedly anticipate these models to become the next wave of eco-friendly transportation and plan to sign a memorandum of understanding next week, with an official announcement scheduled for BMW's media event on September 5.
