DEARBORN, Mich. — A chance meeting in an airport lobby between the top executives of Ford Motor Co. and Toyota Motor Corp. has evolved into a deal between the auto giants to jointly develop a gas-electric hybrid engine for pickup trucks and sport utility vehicles.
The companies signed the agreement Monday to share development costs, saying they want to make the technology more affordable for customers and bring it to market faster. Many details have yet to be worked out, but both said their vehicles would remain unique even if they share drive systems.
The deal will help both companies meet more stringent fuel-economy and pollution standards in the U.S. and elsewhere, while keeping larger vehicles viable if gas prices continue to rise.
“Trucks and SUVs are indispensable for the U.S. society,” said Takeshi Uchiyamada, Toyota’s executive vice president for research and development.
The companies aren’t sure yet what kind of gas mileage the system will get, but they know that hybrid trucks would help automakers meet U.S. fuel-economy standards that require new vehicles to average 56.5 miles per gallon by 2025. Trucks will have lower mileage targets but still would have to improve to meet the standards.
Neither company would say what vehicles the system would go into, but it was clear they are targeting pickup trucks, which for both are big sellers. Ford’s F-Series pickup is the top-selling vehicle in the U.S., and Toyota is still trying to break into the full-size pickup market with its Tundra model.
