BMW says no plans to develop compact vehicle with rival: CFO

SHANGHAI (Reuters) – BMW Chief Financial Officer Nicolas Peter said the Bavarian carmaker has no plans to develop a compact vehicle together with a rival German carmaker.

“We have no plans to develop a smaller car together with a German competitor,” Peter said at the Shanghai Autoshow on Tuesday, pouring cold water on rumors that BMW was about to deepen its alliance with Daimler.

(Reporting by Edward Taylor)