May 7, 2019 / 9:14 AM / 5 months ago

BMW CEO rules out taking Daimler stake as part of deeper alliance

Harald Krueger, Chief Executive of German luxury carmaker BMW, addresses the company's annual news conference in Munich, Germany, March 20, 2019. REUTERS/Michael Dalder

FRANKFURT (Reuters) - BMW’s Chief Executive Harald Krueger on Tuesday said there are no plans for the Bavarian carmaker to take a stake in rival Daimler as the two carmakers continue talks on how to deepen cooperation in the area of autonomous vehicles.

BMW and Daimler are cooperating in the area of mobility services, joint procurement of components and development of autonomous vehicle technologies.

Upon being asked whether the multi-billion euros alliance between the two German carmakers could include taking a small stake in Daimler, Krueger said, “I can rule that out.”

Reporting by Edward Taylor; Editing by Tassilo Hummel

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