Toyota Motor Corp. and Ford Motor Co. have reached a preliminary agreement to jointly develop a hybrid system for sport-utility vehicles and light trucks.
The formal agreement is expected by next year, the companies said Monday in a joint statement.
The automakers will individually integrate the jointly developed technology into their vehicles.
In March 2004, Ford licensed hybrid technology from Toyota and has since developed its own hybrid vehicles by taking advantage of Toyota’s patented expertise in motors and engines.
However, the U.S. automaker apparently believes that working together with Toyota, which has advanced hybrid technology, would be more beneficial.
According to the statement, Toyota and Ford also have agreed to collaborate in the development of standards for built-in communications systems used in vehicles such as plug-in hybrids.