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Toyota and BMW to team up on ‘green cars’

Toyota Motor Corp. and BMW AG will expand their alliance on so-called eco-friendly cars, with the Japanese automaker providing its hybrid and fuel-cell technologies to the German partner in exchange for technologies that reduce vehicle weight, Toyota sources said Monday.

By sharing their technologies in the promising field, the two major carmakers aim to enhance their global competitiveness and cut development costs, the sources said, adding that they are expected to formalize and announce the accord soon.

Toyota, which plans to launch a fuel-cell car around 2015, has never offered its “green car” expertise to a rival before, but previously joined hands on hybrid technology with Ford Motor Co. and Mazda Motor Corp.

Read the rest of the story: Toyota, BMW up ‘green car’ partnership.