The automobile industry may once again usher in a new alliance. According to foreign media, the German BMW Group will form an alliance with Hyundai Motor Co., Ltd. to jointly develop the next-generation engine. Both companies will jointly share R&D expenses of more than 1 billion euros. However, the two companies have not officially responded to this news.
It is understood that the contact between BMW and Hyundai is still at an early stage, mainly to discuss the alliance between the engine and other fields. Among them, the two parties may jointly develop a new type of engine, which will apportion more than 1 billion euros of R&D expenses in a 50% to 50% mode. According to insiders, Zheng Yixuan, the son of Hyundai Motor Chairman Zheng Mengjiu, had met with some of the senior management of the BMW Group in Munich, Germany.
Previously, BMW had established partnerships with PSA and Toyota in the engine field and is currently negotiating with GM in order to reduce high R&D expenses. However, there is no response from BMW and Hyundai. It is understood that BMW is the world's largest luxury luxury car market leader. It achieved sales of 255,528 units in the first quarter of this year. Its operating income was 18.293 billion euros, a year-on-year increase of 14.1%; and Hyundai is the world's fifth-largest automotive group, in the first quarter of this year. Net profit was 2.16 billion U.S. dollars, a year-on-year increase of 30.6%.
It is understood that the contact between BMW and Hyundai is still at an early stage, mainly to discuss the alliance between the engine and other fields. Among them, the two parties may jointly develop a new type of engine, which will apportion more than 1 billion euros of R&D expenses in a 50% to 50% mode. According to insiders, Zheng Yixuan, the son of Hyundai Motor Chairman Zheng Mengjiu, had met with some of the senior management of the BMW Group in Munich, Germany.
Previously, BMW had established partnerships with PSA and Toyota in the engine field and is currently negotiating with GM in order to reduce high R&D expenses. However, there is no response from BMW and Hyundai. It is understood that BMW is the world's largest luxury luxury car market leader. It achieved sales of 255,528 units in the first quarter of this year. Its operating income was 18.293 billion euros, a year-on-year increase of 14.1%; and Hyundai is the world's fifth-largest automotive group, in the first quarter of this year. Net profit was 2.16 billion U.S. dollars, a year-on-year increase of 30.6%.
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