Toyota Motor (NYSE: TM) and BMW to Expand Fuel Cell Vehicle Alliance: Nikkei Asia

TOKYO – On Tuesday, Nikkei Asia reported that Toyota Motor (NYSE: TM) and BMW will upgrade their partnership in fuel cell vehicles.

The report states that the two automakers are set to sign a memorandum of understanding for the partnership next week, with an official announcement set for September 5.

A Toyota spokesperson said Nikkei’s report is not based on the company’s announcement, declining to comment further.

A spokesperson for BMW said the information contained in the media report was not based on an announcement by the BMW Group.

“The BMW Group and Toyota Motor Corporation have been working together for several years on fuel cells and other technologies with the common goal of offering another zero-emission mobility solution,” the BMW spokesperson added.

(Source: ReutersReuters)

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