Two competitors in the automotive world are teaming up to lead the push toward alternative fuel. Toyota and BMW have joined together to begin research that could lead to the creation of next generation batteries and as a result, cleaner vehicles, Bloomberg reports.

In particular, the manufacturers will be focusing on lithium ion batteries. Researchers are hoping to find a way to increase both the performance and capacity of the devices by utilizing new combinations of materials. The partnership is nothing new, BMW said in a statement, and is a mutually-beneficial endeavor for the two companies.

"The agreement follows the memorandum of understanding concerning a mid-to-long-term collaboration on next-generation environment-friendly vehicles and technologies announced by the two companies," in December, the automaker said.

In particular, the move is a good one for Toyota because it gives the company an opportunity to expand its appeal in Europe while also helping create a new fuel-efficient vehicles, the news source reports. As for BMW, industry analysts say it's a smart decision to team up with the leading builder of hybrid as a way to fend off challenges from Audi in the luxury car realm.

The announcement comes as a greater focus is being put on electric vehicles. Most recently, Honda announced it is going to be releasing a plug-in hybrid version of its popular Accord. Additionally, a brand new electric car, the Coda, is expected to hit select markets sometime later this year, according to USA Today.

While electric vehicles are still pretty uncommon the road, there are plenty of  other fuel-efficient cars out there for drivers looking to save money on gas. You're sure to find some of them at New Jersey State Auto Auction, which has a wide variety of makes and models at affordable prices.