FRANKFURT (Reuters) -- BMW is in talks with Hyundai to help shoulder the 1-2 billion euros ($1.3-2.6 billion) in costs of developing new engine families, according to a German industry newsletter.
Hyundai Chairman Chung Mong-koo's son and heir apparent, Chung Eui-sun, had met a small group of top BMW managers in Munich, Automobil Produktion said today, without citing sources.
A BMW spokesman declined to comment on the report. CEO Norbert Reithofer earlier dampened speculation BMW would extend its partnerships beyond PSA/Peugeot-Citroen, Toyota, Daimler and possibly General Motors Co., should ongoing talks with the U.S. automaker prove fruitful.
"Further co-operation partners are currently not foreseen," Reithofer told reporters today.
BMW had said in March 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.
BMW investigates engine development collaboration
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