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GM Fuel Cell Talks with BMW Collapse
BMW AG tells Bloomberg News it has abandoned discussions with General Motors Co. about joint fuel-cell research.
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BMW AG tells Bloomberg News it has abandoned discussions with General Motors Co. about joint fuel-cell research. The company is widely expected to partner instead with Toyota Motor Corp., with whom it launched a lithium-ion battery project last December.
BMW CEO Norbert Reithofer and Toyota President Akio Toyoda have scheduled a press conference for Friday. Bloomberg cites an unidentified source who says the companies will announce they are expanding their partnership to fuel cells and other components for electric powertrains.
A BMW spokesman tells Bloomberg that the German company is continuing to talk with GM about other joint projects. GM, which launched a product development partnership with PSA Peugeot Citroen in February, has declined to comment.
BMW and PSA said last week they are re-evaluating their two-year-old joint venture to make hybrid vehicle components because of the French company's tie-up with GM.
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