BMW, Hyundai Discussing Engine Development?

BMW AG and Hyundai Motor Co. are discussing a possible partnership to co-develop a new family of engines, according to Germany's Automobil Produktion.

The trade newsletter, which cites no sources, says BMW executives met in Munich recently with Hyundai Vice Chairman Chung Eui-sun. Discussions reportedly centered on ways the companies could share the $1.3 billion-$2.6 billion cost of designing and engineering the powerplants.

BMW declines comment about the report, and CEO Norbert Reithofer tells reporters the company does not foresee any new partnerships.