BMW Group and Toyota Motor Corporation agree to further strengthen collaboration

Note: This press release is a 1:1 copy of the original issued by BMW headquarters in Germany. No adaptations have been made to cater for the UK market.

Companies sign MoU aimed at collaboration in four fields of technology

Tokyo/Munich . Akio Toyoda, President of Toyota Motor Corporation (TMC), met today with Norbert Reithofer, Chairman of the Board of Management of BMW AG, at BMW Group headquarters in Munich to announce the planned expansion of their existing cooperation initiated in December last year. The two companies signed a Memorandum of Understanding (MoU) aimed at long-term strategic collaboration in four fields: joint development of a fuel cell system, joint development of architecture and components for a future sports vehicle, collaboration on powertrain electrification and joint research and development on lightweight technologies.

Also today, Norbert Reithofer and Akio Toyoda of TMC both signed a Joint Statement to reconfirm their companies’ shared intention to strengthen the long-term, strategic collaboration between them.

Reithofer said: “We aim to further strengthen our competitive position in sustainable future technologies. We signed an MoU to this effect today. 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.”

Toyoda added: “BMW and Toyota both want to make ever-better cars. We respect each other. And I think this is shown by our taking the next step only six months since the signing of our initial agreement. 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.”

In March 2012, the BMW Group and TMC signed a binding agreement on collaborative research in the field of next-generation lithium-ion battery cells. In addition, the BMW Group and Toyota Motor Europe entered into a contract under which the BMW Group will supply highly-efficient 1.6 litre and 2.0 litre diesel engines to Toyota Motor Europe, starting in 2014.

Today’s MoU represents the companies’ agreement in December last year to identify and discuss other possible collaborative projects.

Toyota’s press release and the statement of Akio Toyoda are available at

www.toyota-global.com and http://corporatemedia.toyota.eu

If you have any queries, please contact:

BMW Group Corporate Communications  

Micaela Sandstede, Business and Finance Communications BMW Group

Micaela.Sandstede@bmw.de, Telephone: +49 89 382-61611, Fax: +49 89 382-24418

Alexander Bilgeri, Head of Business, Finance and Sustainability Communications BMW Group

Alexander.Bilgeri@bmw.de, Telephone: +49 89 382-61611, Fax: +49 89 382-24418

Media website: www.press.bmwgroup.com

Email: presse@bmw.de

Toyota Motor Corporation  

Media from the Americas, Europe or Africa: +81-3-3817-9926/9161

Media from Asia, Oceania or the Middle East: +81-3-3817-9182/9174

Die BMW Group

Die BMW Group ist mit ihren Marken BMW, MINI, Husqvarna Motorcycles und Rolls-Royce einer der weltweit erfolgreichsten Premium-Hersteller von Automobilen und Motorrädern. Als internationaler Konzern betreibt das Unternehmen 29 Produktions- und Montagestätten in 14 Ländern sowie ein globales Vertriebsnetzwerk mit Vertretungen in über 140 Ländern.

Im Geschäftsjahr 2011 erzielte die BMW Group einen weltweiten Absatz von rund 1,67 Millionen Automobilen und über 113.000 Motorrädern. Das Ergebnis vor Steuern belief sich auf 7,38 Mrd. €, der Umsatz auf 68,82 Mrd. €. Zum 31. Dezember 2011 beschäftigte das Unternehmen weltweit rund 100.000 Mitarbeiterinnen und Mitarbeiter.

Seit jeher sind langfristiges Denken und verantwortungsvolles Handeln die Grundlage des wirtschaftlichen Erfolges der BMW Group. Das Unternehmen hat ökologische und soziale Nachhaltigkeit entlang der gesamten Wertschöpfungskette, umfassende Produktverantwortung sowie ein klares Bekenntnis zur Schonung von Ressourcen fest in seiner Strategie verankert. Entsprechend ist die BMW Group seit sieben Jahren Branchenführer in den Dow Jones Sustainability Indizes.

www.bmwgroup.com

Facebook: http://www.facebook.com/BMWGroup

Twitter: http://twitter.com/BMWGroup

YouTube: http://www.youtube.com/BMWGroupview