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Tuesday, May 08, 2012

BMW and Hyundai in cost-sharing talks

 (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 PSA , 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.

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