According to Friedrich Eichiner, a BMW’s board member for corporate and brand development, BMW will decided by the end of the year whether or not it wants to sell engines and other components to rival automakers. When asked if he meant GM, Daimler and Fiat, Eichiner said: “We are talking with those companies you mentioned.”
Selling engines and other components to other automakers is part of CEO Norbert Reithofer’s Number One strategic plan to boost profitability. Selling engines to GM and Fiat, BMW will be able to increase revenue and reduce spending by spreading out the development and production cost over its engine and transmissions.
Until now, BMW had not confirmed that it is talking to GM, Daimler or Fiat. The German giant announced back in February that it is looking for customers for its engines and transmissions.
Source: Automotive News (Subscription Required)
[tags]Cars, Car, Auto, Automobile, Vehicles, Technology, Auto News, News, Automotive, BMW[/tags]