BMW and Hyundai are apparently in talks for a possible tie-up in engine development and other areas, according to sources that are familiar with the matter.
“The talks are at early stages,” a sources told Reuters.
The insider states that the two companies have discussed an alliance, including jointly developing an engine and sharing development costs. NO word on whether the talks were still going on.
Automobil Produktion of German reported that Hyundai’s chairman Chung Mong-koo’s son and heir, Chung Eui-sun, was in Munich to meet top BMW decision makers on sharing $1.3-$2.6 billion engine development costs.
We’ll have more if anything else develops.
– By: Omar Rana