BMW, Toyota Sports Car Project on Track

BMW AG tells Bloomberg News its partnership with Toyota Motor Corp. to co-develop a sports car is "progressing according to plan."

The partners announced in 2013 they would collaborate on a common platform to carry separately designed cars that would be marketed independently by each company. Last November they said they had completed a technical assessment for the chassis and were moving into a concept development phase.

Neither company has indicated when the resulting cars will be introduced or where they will be manufactured. But analysts estimate the models will debut in about 2017. Last year the Financial Times cited an unnamed source who said the cars will be powered by a variant of the hybrid system used in the Toyota Prius sedan.

BMW and Toyota also collaborate on powertrains, fuel-cell systems and electric-car batteries.