BMW, Daimler seek to save $8 billion each from shared platforms, reports say

BMW and Mercedes-Benz owner Daimler are in talks to cooperate in developing vehicle platforms for electric cars in a step that could save each automaker at least 7 billion euros ($7.91 billion), Sueddeutsche Zeitung and Auto Bild reported.

The two companies already have a joint procurement program and recently extended their cooperation to include development of advanced driver assistance systems and mobility services.

Auto Bild said Daimler and BMW are in talks over whether to share engineering costs for compact and midsize cars, which are designed to be “electric first,” but also have the capability of using conventional powertrains.

BMW and Daimler would save 7 billion euros each, over a period of seven years, the magazine said.