FRANKFURT May 3 BMW is in talks with
South Korean automaker Hyundai to help shoulder the
1-2 billion euros ($1.3-2.6 billion) in costs for developing new
engine families, German industry newsletter Automobil Produktion
reported on Thursday.
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, without citing sources.
A spokesman declined to comment on the report.
However, Chief Executive Norbert Reithofer earlier dampened
speculation BMW would extend its partnerships beyond Peugeot
, Toyota, Daimler and possibly GM
, should ongoing talks with the U.S. automaker prove
"Further co-operation partners are currently not foreseen,"
Reithofer told reporters on Thursday.
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 petrol and diesel engines.