Daimler and BMW to limit cooperation in China
Daimler and BMW are intending to limit their planned cooperation to jointly produce an affordable electric car in China. In March, it was reported that the two companies were in talks to cooperate in developing vehicle platforms for electric cars so that to save at least 7 billion euros for each carmaker.
The two automakers are going to scale back their cooperation to produce cars in China.
Stocks impacted: Daimler (DAI), BMW (BMW)
The cooperation included sharing engineering costs for driverless cars. Now, it is reported that Daimler and BMW are planning a joint electric car in the price range between 27,500 and 32,500 euros. By the way, some managers at both companies express criticism over the plan, and BMW is concerned that its brand could be diluted by a deal with Daimler.
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