Toyota, BMW Team Up on Green Battery

They have been working on a fuel cell system since 2011

   

toyota logo frosty 630 300x225 Toyota, BMW Team Up on Green BatteryToyota (NYSE:TM) is partnering with BMW to develop a new type of battery to power environmentally friendly vehicles.

The two companies have been working jointly on lightweight composite materials and a fuel-cell system to power green autos since 2011. The new research effort aims to produce lithium-air batteries that will provide more power than the lithium-ion batteries currently used in hybrid and electric vehicles, the Associated Press noted.

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Lithium-air batteries can use oxygen drawn from the air to assist in power generation, compared to lithium-ion batteries, which use an engineered lithium compound.

Research alliances are becoming common among global carmarkers. General Motors (NYSE:GM) and France’s Peugeot (PINK:PEUGY) have formed a purchasing partnership to lower costs and are now collaborating on a range of new vehicles.

A number of other automakers are working to develop green technology to power vehicles, including Ford (NYSE:F), which is expanding its own research into battery development, according to Bloomberg.

Shares of Toyota rose about 1% in Thursday morning trading.


Article printed from InvestorPlace Media, http://investorplace.com/2013/01/toyota-bmw-team-up-on-green-battery/.

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