Toyota Motor Corp and BMW are planning to enhance their partnership in fuel cell vehicles, as reported by sources on Tuesday. The two automakers are expected to sign a memorandum of understanding next week, with an official announcement scheduled for Sept. 5, according to sources.

A Toyota spokesperson declined to comment, stating that Nikkei's report is not based on a company announcement.

A BMW spokesperson also stated that the information in the media report was not based on an official announcement by the BMW Group.

"The BMW Group and Toyota Motor Corporation have been collaborating for several years on fuel cells and other technologies with the shared objective of providing another zero-emission mobility solution," the BMW spokesperson added.

BMW is a German company that produces luxury cars and motorcycles, with its headquarters in Munich, Bavaria, Germany. The company was established in 1916 as a producer of airplane motors. They manufactured engines from 1917 to 1918 and then from 1933 to 1945 for aircraft used in World War II.

Cars are sold under the labels BMW, Mini, and Rolls-Royce, while motorcycles are sold under the BMW Motorrad label. In 2023, BMW ranked as the ninth biggest motor vehicle producer globally, manufacturing 2,555,341 vehicles, and in 2022 it was the seventh largest in terms of revenue.