German automakers Bayerische Motoren Werke AG and Daimler AG are in high-level discussions to co-develop electric vehicle platforms, Sueddeutsche Zeitung reported March 14, citing unnamed sources.
The two carmakers are looking to save at least €7 billion each over a seven-year period, with the possibility of larger savings if larger vehicles were also co-developed, the German-language publication reported.
Both companies are discussing the possibility of splitting engineering costs for developing compact and mid-size car platforms, which are electric vehicle focused but can also accommodate hybrid and internal combustion drivetrains, according to the report.
On Feb. 22, BMW Group and Mercedes-Benz parent Daimler launched a mobility joint venture, merging their ride-hailing, car-sharing, EV charging and other mobility businesses. The two German rivals are also reported to be considering another partnership to develop autonomous driving systems.