Toyota Motor Corp. will provide Nissan Motor Co. with technology aimed at developing eco-friendly hybrid cars over a period of more than 10 years, the automakers said Monday.
The rivals' first alliance is aimed at slashing the huge costs involved in developing environmentally friendly hybrid cars, which emit less carbon dioxide and cleaner exhaust, the vice presidents of the two manufacturers told a news conference.
Nissan will install Toyota's hybrid system, which features a gasoline engine as well as electric motors, in Nissan vehicles that will be sold in the United States from 2006, they said. Nissan expects to sell 100,000 vehicles of this kind over a period of five years.