BMW wants to cooperate more closely with its main competitor, Mercedes.

BMW marketing and sales director Michael Ganal told the German financial weekly Wirtschaftswoche that "cooperations are the right thing for us as they give everyone entrepreneurial freedom".

Ganal thinks that Mercedes would make a good cooperation partner because they have a similar business structure. "Both brands are in the premium segment, both support high technologies, both are independent but neither is the largest manufacturer."

Ganal did not elaborate further on how the two companies might cooperate. They have worked together previously with General Motors to develop components for two-mode hybrids.

The report also referred to suggestions that BMW is interested in acquiring another brand. When asked about the rumours that BMW is considering acquiring Volvo, a BMW manager told Wirtschaftswoche: "We are not currently conducting talks with Volvo."