Auto companies are pooling their resources to try to gain access to the growing market for hybrid and fully electric vehicles. Research and development partnerships already exist between Renault and Nissan and more recently Toyota and Tesla have agreed to work together.
Now BMW and PSA Peugeot-Citroën are forming a new partnership for the development of electric vehicle components.The partnership has been formed in order to create a standard for electric vehicle technology across the brands to ensure more efficient production and higher quality. Once such a standard is established it is believed that it will allow the electric vehicle market to grow much faster. They will also work together to develop hybrid technology and the software needed to allow a hybrid system to work efficiently.
Daimler AG, bought 10% of Tesla, and is working on a partnership agreement with Renault Nissan to develop small electric cars. Renault Nissan has partnered with Mitsubishi which promises electric versions of all new car models.
These are just a few examples of companies teaming up to share the formidable costs of developing hybrid and fully electric powertrains.
© 2011, Richard Matthews. All rights reserved.