(MENAFN- Qatar News Agency) Toyota Motor Corp. has reached an agreement with BMW AG to provide the German firm with technology for fuel cell vehicles.
According to Japanese economic newspaper (Nikkei), the Japanese auto maker will provide BMW with drivetrain and hydrogen storage technology this year. BMW will use it to build a prototype vehicle by 2015, with plans for a market release around 2020.
Toyota, which has been developing such technology on its own since 1992, will be sharing it for the first time with another company.
Fuel cell vehicles run on electricity made from a chemical reaction between hydrogen and oxygen, and so emit no carbon dioxide. Rivals like Daimler AG, General Motors Co., Nissan Motor Co. (7201.TO), Honda Motor Co. (7267.TO) and Hyundai Motor Co. are all competing to develop these environmentally friendly vehicles.
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