BMW and Toyota Motor are discussing the possible expansion of their existing alliance, BMW's chief finance officer Friedrich Eichiner said in Frankfurt Tuesday (15 September). The talks between the two automakers come as the global auto industry faces upheaval through the emergence of new technology and increasing regulatory pressure to cut emissions and introduce new safety features in all cars, marketwatch.com reported.
Toyota and BMW already work together to develop fuel cell vehicle technology and recently showed a prototype vehicle, a converted BMW 5-series with a hydrogen engine. BMW also supplies diesel engines to Toyota.
Go deeper with GlobalData
"Both companies are interested in further expanding their cooperation," Eichiner told reporters on the sidelines of the Frankfurt show. "But we are not thinking of any kind of capital exchange."
Eichiner also said he saw no sign of improvement in China. Once the fastest-growing car market, China car sales are in decline as the economy grows. The Chinese government has pledged to intervene to spur growth again.
"But so far we don't see that in our sales figures," Eichiner said. "The days of turbulent growth in China may be over forever."
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
