2000 Toyota Mr2 on 2040-cars

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Final decision on Toyota/BMW sports car due by year end

BMW and Toyota signed a memorandum of understanding to share technology and build a sports car way back in 2012, and months later, they made that partnership official. This oft-rumored model from two auto industry titans still hasn't hit the road, and the time has come to make a final decision about its future. Thankfully, the model's fate is just a few months from being known. "By the end of the year we will approve whether or not we will make it," a Toyota spokesperson said about the sports car project, according to Automotive News Europe. "The whole study before that, on what kind of platform, on what kind of architecture, that's been progressing quite well. We haven't yet decided to give the green light to the project, but it's coming up." The collaboration is supposed to result in jointly developed fuel-cell tech, composites, and research into lithium-air batteries. Little is officially known about what Toyota and BMW are planning for the sports car project, but there are plenty of rumors about what's in store. Both automakers are supposed to get their own version of the vehicle. Some reports say the Japanese model will be the revival of the Supra, and the Bimmer-badged one might end up being a replacement for the Z4. The potential powertrains have been suggested as a German-sourced, turbocharged inline six with rear-wheel drive and a super-capacitor-powered plug-in hybrid with all-wheel drive.

Toyota goofs again in latest Mirai fuel cell ad

In the "gotcha" culture engendered by social media and viral campaigns, it looks like Toyota got, well, got. The Japanese automaker is starting a campaign for its Mirai fuel-cell vehicle, and included a line about the fact that the car "breathes in air." Of course, all light-duty vehicles do that, as Jalopnik's Opposite Lock happily pointed out. Jalopnik added that even electric vehicles have an air intake for their heat exchangers. Oops. It looks like Toyota doesn't think this message is wrong, since the image is still up on the company's Google+ page. The Mirai can still lay claim to something that may impress the layman in that it emits only water vapor from its tailpipe. It's a pitch Toyota started making to Americans last November when the company said it would start Mirai sales this year in California. Toyota's charging an MSRP of $57,500 for those looking to buy the car outright or a three-year lease rate of $499 a month for 36 months (with $3,649 due at signing) for those to want to lease the car. Toyota also said in January that it would ramp up Mirai production to about 2,000 vehicles in 2016 from about 700 this year, as it expands distribution into Europe and the US. In the US, refueling the hydrogen will be free. Just like the chemistry lesson from Opposite Lock. Related Videos:

Toyota plans biggest stock buyback in over a decade

At the end of December, 2013 Toyota had a cash stockpile of 1.8 trillion yen ($17.5B US). As of March 31, at the end of its current financial year, company coffers are expected to swallow another 1.9 trillion yen ($18.4B US) in net profit - said to be a record sum for the Japanese automaker. In a gesture signaling a turnaround from the horrors of the global recession, Bloomberg reports that Toyota will buy back 60 million shares of its stock, as much as 1.89 percent of the company, for something like 360 billion yen ($3.5B US). It's the first buyback since 2009 and the largest buyback since 2003, when it spent roughly 390 billion yen ($3.8B US) repurchasing shares.
Company president Akio Toyoda founded the Toyota Mobility Foundation (TMF), a non-profit that will support international groups working on transportation issues in emerging markets. Half of the stock that Toyota buys, 30 million shares, will be sold to the foundation via the Japanese Trustee Services Bank for one yen per share, the dividend providing the foundation's initial funding. The other 30 million shares will be canceled, a company spokesman telling Reuters that the company wants to reward shareholders.
Industry analysts have been asking Toyota to either return money to shareholders or invest in new factories, but Toyota has ruled out the latter. After getting burned with excess capacity when the financial crisis came, the company is focused on extracting efficiencies from the plants it already has. Toyota has said it plans to complete the buyback by June of this year.