Volkswagen, Toshiba to cooperate on next-gen vehicles

Volkswagen AG and Toshiba Corp. have signed a letter of intent in Wolfsburg to cooperate for the development of electric drive units and the accompanying power electronics for Volkswagen's planned New Small Family. Furthermore, Volkswagen and Toshiba are planning the development of battery systems with a high specific energy density for the next generation of electric vehicles.

"Volkswagen is forging ahead with the development of future drive technologies in many different areas," said Martin Winterkorn, chairman of the board of management at Volkswagen. "In order to further strengthen our position, Volkswagen is investing in the long term and is offering cooperation projects to other companies. One of the important components in this context is the cooperation with Toshiba."

Volkswagen's objective, he said, is to be the first manufacturer to provide an emissions-free, affordable and safe large-scale production electric vehicle. "A considerable amount of R&D work still has to be carried out until we can produce the electric vehicle, in the field of Li-ion battery technology in particular and this is an area in which the Volkswagen Group is working with further potential technological partners alongside Toshiba," stated Winterkorn.

The letter of intent was signed by Winterkorn and Atsutoshi Nishida, president and CEO of Toshiba.

Nishida said: "We look forward to building up a mutually beneficial partnership with Volkswagen, a clear leader in the automotive industry making strong initiatives in the development of environmentally-friendly cars." He continued that this is a good signal for mobility based on ecology and economy.