DaimlerChrysler and Hyundai Motor Co are in talks about the future of their alliance amid doubts about plans to build commercial vehicles and engines together, Reuters reported, citing the Financial Times website.
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According to Reuters, the newspaper, citing people close to the situation, said that Hyundai felt it no longer needed its German partner after its emergence as one of the world’s fastest-growing carmakers.
The newspaper reportedly said the alliance was approaching a “critical juncture” and a “significant announcement” could come soon.
A Hyundai spokesman told Reuters the two firms have been in talks on various issues but declined to reveal what they were and whether it planned to cut ties with DaimlerChrysler.
DaimlerChrysler owns 10% of Hyundai with which it already makes truck engines, the news agency noted.
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By GlobalDataThe newspaper reportedly said that high-level talks about the future of the alliance had been going on for months and that Hyundai last year appointed investment bankers to consider the company’s options – including severing ties with Daimler.
