Germany's Daimler, BMW considering cooperation

Photo: Germany's Daimler, BMW considering cooperation

Daimler's chief executive said Wednesday that BMW AG and his company were considering cooperating on projects such as the development of a hybrid engine.

Dieter Zetsche also said the company is looking at possible cooperation with other automakers to share costs, and confirmed that Daimler was in talks with Italian auto maker Fiat SpA over possible joint projects.

He didn't provide details on the status of any of the talks or when they would be completed.

He said Daimler has conducted an internal investigation amid allegations of insider trading with shares in European Aeronautic Defence & Space NV Co. and found no indications of any wrongdoing.

He declined to elaborate further due to the ongoing probe by French regulator Autorite des Marches Financiers, or AMF.

DaimlerChrysler AG reduced its stake in EADS, the parent company of aircraft maker Airbus, to 15 percent from 22.5 percent in the first quarter 2007.

The company sold most of its stake in Chrysler earlier this year and changed its named to Daimler.