Ford to Collaborate with Toyota on the Development of a New hybrid system

Ford and Toyota have put their rivalry away momentarily to combine forces for the development of a new "advanced" hybrid system for light truck and SUV customers. The two automakers signed a memorandum of understanding (MOU) on the product development collaboration, in which they will be equal partners, with the formal agreement expected by next year.
Although neither side revealed which vehicles are to receive the new hybrid system, the two companies announced that it will be used in rear-wheel-drive light trucks arriving later this decade and that while they will share significant common technology and components, each company will individually integrate the system into their own vehicles.
In a joint statement, Ford and Toyota said they believe that their newly formed partnership will allow them to "bring these hybrid technologies to customers sooner and more affordably than either company could have accomplished alone".
“By working together, we will be able to serve our customers with the very best affordable, advanced powertrains, delivering even better fuel economy,” said Ford President and CEO Alan Mulally. “This is the kind of collaborative effort that is required to address the big global challenges of energy independence and environmental sustainability.”
Toyota President Akio Toyoda added: “Toyota is extremely proud to join Ford in developing a hybrid system for pickup trucks and SUVs. Not only is this tie-up clearly one aimed at making automobiles ever better, it should also become an important building block for future mobility in the U.S. By building a global, long-term relationship with Ford, our desire is to be able to continue to provide people in America automobiles that exceed their expectations.”
In addition to the MOU agreement on the development of the rear-wheel drive hybrid system, Toyota and Ford also agreed to collaborate on standards and technologies for in-vehicle telematics systems, with each company to continue to separately develop their own in-vehicle products and features. 

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