Toyota, BMW Team Up on Green Battery

by Christopher Freeburn | January 24, 2013 10:23 am

[1]Toyota (NYSE:TM[2]) is partnering with BMW to develop a new type of battery to power environmentally friendly vehicles[3].

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.

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[4]) and France’s Peugeot (PINK:PEUGY[5]) have formed a purchasing partnership to lower costs and are now collaborating on a range of new vehicles[6].

A number of other automakers are working to develop green technology to power vehicles, including Ford (NYSE:F[7]), which is expanding its own research into battery development[8], according to Bloomberg.

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

Endnotes:

  1. [Image]: https://investorplace.com/wp-content/uploads/2011/11/toyota-logo-frosty-630.jpg
  2. TM: http://studio-5.financialcontent.com/investplace/quote?Symbol=TM
  3. a new type of battery to power environmentally friendly vehicles: http://hosted.ap.org/dynamic/stories/A/AS_JAPAN_TOYOTA_BMW?SITE=AP&SECTION=HOME&TEMPLATE=DEFAULT&CTIME=2013-01-24-07-23-50
  4. GM: http://studio-5.financialcontent.com/investplace/quote?Symbol=GM
  5. PEUGY: http://studio-5.financialcontent.com/investplace/quote?Symbol=PEUGY
  6. to lower costs and are now collaborating on a range of new vehicles: https://investorplace.com/2012/10/gm-peugeot-alliance-to-launch-new-vehicles/
  7. F: http://studio-5.financialcontent.com/investplace/quote?Symbol=F
  8. its own research into battery development: http://www.bloomberg.com/news/2012-08-15/ford-boosts-investment-for-battery-powered-cars.html

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