April 16, 2019 / 3:40 AM / 5 months ago

BMW says no plans to develop compact vehicle with rival: CFO

FILE PHOTO: Nicolas Peter, CFO of German luxury carmaker BMW, addresses the company's annual news conference in Munich, Germany, March 20, 2019. REUTERS/Michael Dalder

SHANGHAI (Reuters) - BMW Chief Financial Officer Nicolas Peter said the Bavarian carmaker has no plans to develop a compact vehicle together with a rival German carmaker.

“We have no plans to develop a smaller car together with a German competitor,” Peter said at the Shanghai Autoshow on Tuesday, pouring cold water on rumors that BMW was about to deepen its alliance with Daimler.

Reporting by Edward Taylor

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