Luxury automaker BMW and General Motors plan to cooperate on the development of fuel cell technology, the German business newspaper Wirtschaftswoche reported.
According to the same source, the Germans will get access to GM’s fuel-cell technology and in return will help cover research and development costs. The two carmakers plan to sign a memorandum of understanding following the car show in Detroit in January, the magazine said.
Reuters in Germany are reporting that talks are at a very advanced stage between GM and BMW on fuel cell technology. The report says that BMW and GM are very close to signing a cooperation agreement.
The announcement comes shortly after BMW said will cooperate with Toyota to accelerate the development of cheaper and more-advanced lithium-ion battery cells for use in hybrid, plug-in hybrid and electric vehicles.
The Japanese car maker will start taking delivery of the 1.6 and 2.0-litre turbo-diesels in 2014 but it was not revealing which models would be receiving the German-built engines.