A report in a German industrial publication, Automobil Produktion, stated that BMW and Hyundai were looking to spend a combined amount of US$1.3 billion and US$2.6 billion on the development of a new engine family. The report also claimed that Hyundai senior managers, including Chung Eui-Sun (the son of Hyundai Chairman, Chung Mong-Koo) met with BMW officials at BMW’s headquarters in Munich, Germany.
A spokesperson for the Korean automaker has denied all these alleged rumours and BMW’S CEO, Norbert Reithofer, stated that there are no future plans for any tie-ups. However, BMW is reportedly in talks with General Motors over the co-development of new hydrogen fuel cell technology.
BMW has a well known reputation for building some of the best engines and lately, Hyundai has shown the world its Tau V8 series engines and their new six-speed and eight-speed automatic transmissions. This proves that the Korean automaker has what it takes to develop world class automotive technologies.
If these reports (or rumours) are true, then hopefully we could see something interesting out of it.