BMW is not against collaborating with other manufacturers when it comes to developing new technologies, having recently agreed to cooperating with Toyota in developing next gen lithium ion batteries and with PSA Peugeot Citroen for hybrid technology. Is Hyundai BMW's next co-development partner?
According to
Reuters and
Automobil Produktion (a German industry newsletter), BMW and Hyundai officials recently met in Munich over potential collaboration on new engine development.
Through its sources, Reuters reports that the talks are still at an early stage and that the two companies have discussed a relationship for jointly developing and sharing costs for a new engine family, which can take as much as 1 to 2 billion Euros to develop. Automobil Produktion provided more salient info, claiming that the Hyundai Chairman's son, Chung Eui-sun, met up with a group of small group of top BMW managers in Munich to discuss the possible engine alliance.
No surprise however that BMW and Hyundai have denied these rumors, with BMW CEO Norbert Reithofer denying the the alliance talks yesterday, claiming that "further co-operation partners are currently not foreseen.". A Hyundai spokesman has also said that the report is groundless and denied that the meeting occurred.