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The Spaminator
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By: Paul McVeigh
June 29, 2012
Automotive News

technology, powertrain electrification and lightweight technologies.

BMW CEO Norbert Reithofer and Toyota President Akio Toyoda signed an initial agreement at BMW's Munich headquarters to expand long-term strategic collaboration between the two automakers.

"Toyota and the BMW Group share the same strategic vision of sustainable individual future mobility. Together we have a great opportunity to continue leading our industry through this transformation," Reithofer said in a statement.

Toyoda said in the same statement: "Toyota is strong in environment-friendly hybrids and fuel cells. On the other hand, I believe BMW's strength is in developing sports cars. I am excited to think of the cars that will result from this relationship."

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