Aug 22, 2011
The Wall Street Journal reported that Ford Motor Company and Toyota announced they will equally collaborate on the development of an advanced new hybrid system for light truck and SUV customers.
In a statement, Derrick Kuzak, Ford's product development chief said, "This agreement brings together the capability of two global leaders in hybrid vehicles and hybrid technology to develop a better solution more quickly and affordably."
Ford and Toyota have signed a memorandum understanding on the product development collaboration, with the formal agreement expected by next year.
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