FRANKFURT, May 3 (Reuters) - 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 fruitful.
“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.