BMW Denies Plan to Develop Small Car with Daimler

BMW AG says it does not intend to partner with Daimler AG to collaborate on a small car that would be sold by each company under its own brand.

Chief Financial Office Nicolas Peter denies reports by German media late last month that indicated the two rivals would co-develop at least one platform to carry small electric vehicles due in about 2024.

Manager Magazin reported that BMW would probably call its version of the car the i2 and sell it for about €30,000 ($33,900). Other reports said the companies were in talks to co-develop multiple EV platforms.