It ‘s official – BMW and Toyota are partnering. At this point the terms are rather loose but buried in them is the mention of the two companies are collaborating on what they ‘re calling a “sports car “.

The term is used loosely these days but 20-30 years ago it was what one called a basic car that ‘s core purpose was driver enjoyment. Exactly the kind of thing Toyota and BMW have a rich history of making. But lately both companies have been focusing on mass markets and efficiency. Not bad things but not core attributes that make great sports cars.

And now we have this. A hypothetical sports car. And for his part, Mr. Toyoda sounded genuinely interested in creating something exciting in his speech this morning with BMW executives at his side:

“We are not coming together to become bigger. We are not coming together to form capital ties. We are joining hands because we want to make ever-better cars. ”

“The Nürburgring is the toughest course there is. At the Nürburgring, the road tosses the car around. Curves seem to try to throw out the car and driver. Roads make cars. The Nürburgring has taught me so. That is why many carmakers test new cars at the Nürburgring. They develop cars there, while competing against other manufacturers. But at the Nürburgring, there is always a car that passes me. It is a BMW. “

Will it actually happen? And if so what will it look like? What price point will it hit? When will it come to market. We know none of this. We only know enough to be genuinely excited.

Hat tip to Jalopnik on the quote.