Toyota May License Fuel-Cell Technology to BMW

Toyota Motor Corp. is poised to license its drivetrain and hybrid storage technology for fuel-cell vehicles to BMW AG, The Nikkei reports without citing its sources.

The companies could announce their agreement as early as Thursday, according to the newspaper. It notes that BMW would be the first carmaker to share the fuel-cell technology Toyota has been developing for 20 years.

Toyota plans to launch a 5 million-yen ($56,100) fuel-cell-powered sedan in Japan, Europe and the U.S. as early as 2015, The Nikkei asserts. It says BMW would obtain the technology this year, develop a prototype by 2015 and begin selling a fuel-cell model in about 2020.

Last June the German automaker scrapped talks with General Motors about joint fuel-cell research four months after GM agreed to an alliance with PSA Peugeot Citroen. Two days later, BMW signed a memorandum of understanding with Toyota to team up on electric powertrains, fuel cells and lightweight materials.

BMW and Toyota had already agreed in December 2011 to cooperate on lithium-ion batteries for electric and hybrid vehicles. Under that deal, BMW also will begin supplying Toyota with "clean" diesel engines in 2014.