BMW is in talks with Hyundai to co-develop a new engine family. According to Automotive News, the Munich-based automaker is looking to further save money on new engines development which accounts for $1 to $2 billion. An unnamed source told Automobil Produktion that Hyundai Chairman Chung Mong-koo’s son and heir apparent, Chung Eui-sun, had met a small group of top BMW managers.
As expected, a BMW spokesman declined to comment. A Hyundai spokesman has also said denied the meeting between the two parties.
CEO Norbert Reithofer who said today that “further co-operation partners are currently not foreseen.”
BMW is currently working on engine and technology development with PSA/Peugeot-Citroen Group, as well as with Toyota and Daimler. A rumored partnership with General Motors came forward in the past few months.
Back in March, BMW had said it was working on a new engine architecture that would improve economies of scale for its three, four and six-cylinder gasoline and diesel engines.