TOKYO (Reuters) - Toyota Motor Corp <7203.T> plans to supply hybrid technology to BMW AG
This month, BMW's joint venture to make hybrid car components with French auto maker PSA Peugeot Citroen
Akio Toyoda, president of Toyota, and Norbert Reithofer, chief executive of BMW, plan to hold a news conference in Germany this week to announce the new project, the paper said without citing sources.
Toyota was not immediately available for comment.
In December, the German premium car maker agreed to supply diesel engines to Toyota from 2014 in Europe and collaborate on lithium-ion battery research for electric cars.
Global automakers face ballooning research and development costs to meet tougher emissions and fuel-economy standards around the world.
This has accelerated cooperation deals among car makers, including Toyota and BMW's main rivals, Nissan Motor Co <7201.T> and Daimler AG
(Reporting by Chikafumi Hodo, Editing by Chang-Ran Kim and Edwina Gibbs)