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China Energy Storage Network News: On January 24th, Toyota Motor and BMW Group signed a binding agreement to deepen their cooperation relationship. According to the agreement, the two companies will collaborate in four areas: fuel powered lithium batteries, sports cars, lightweight technology, and lithium-air batteries.

Akio Toyoda, Chairman of Toyota, and Norbert Reithofer, Chairman of BMW presided over the signing ceremony and announced that the cooperation content was refined on the basis of the memorandum of June 29, 2012, including the following aspects:

1. Fuel powered lithium batteries

Toyota and BMW believe that fuel powered lithium battery technology is one of the solutions to achieve zero emissions. The two companies will share technology in this field and jointly develop a basic fuel powered lithium battery vehicle system, including not only the fuel powered lithium battery stack and the entire system, but also hydrogen fuel storage tanks, motors, and batteries.

Toyota stated that it plans to launch its co developed fuel powered lithium-ion battery vehicle into the market around 2020. BMW, on the other hand, stated that the new car announcement time has not yet been considered. Toyota plans to launch its self-developed fuel powered lithium-ion battery sedan around 2015.

Both parties will also jointly evaluate hydrogen fuel related facility development projects and establish necessary standard terms for promoting fuel powered lithium battery vehicles.

2. Sports car

BMW and Toyota have reached an agreement to conduct a feasibility assessment and complete the platform concept design for the mid size sports car by the end of 2013. The goal of the two companies is to highly integrate each other's technology and skills to maximize user satisfaction. Both Toyota and BMW are considering expanding their cooperation in sports car development in the future.

3. Lightweight technology

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