Ford, Toyota to collaborate on hybrid systems

Ford Motor Company and Toyota Motor Corporation – the world’s two leading manufacturers of hybrid vehicles have announced they will equally collaborate on the development of an advanced new hybrid system for light truck and SUV customers. Ford and Toyota have signed a memorandum of understanding (MOU) on the product development collaboration, with the formal agreement expected by next year. Both companies have been working independently on their own future-generation rear-wheel drive hybrid systems. The two now have committed to collaborate as equal partners on a new hybrid system for light trucks and SUVs. This new hybrid powertrain will bring the full hybrid experience of greater fuel efficiency to a new group of truck and SUV customers without compromising the capability they require in their vehicles. Ford and Toyota believe that their collaboration will allow them to bring these hybrid technologies to customers sooner and more affordably than either company could have accomplished alone