BMW and Toyota have announced plans to co-develop next-generation lithium-ion batteries. They will look work together to look for ways to increase their performance and capacity.

BMW and Toyota have announced plans to co-develop lithium-ion batteries.

Details are limited, but the companies will collaborate on "next-generation environment-friendly vehicles and technologies." As such, engineers will look for ways to increase the performance and capacity of lithium-ion batteries through the use of new combinations of materials for cathodes, anodes and electrolytes.

The latest announcement follows a recent agreement which stipulates that BMW will supply Toyota with 1.6- and 2.0-liter diesel engines.

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