BMW hopes to join forces with DaimlerChrysler and the PSA Peugeot Citroen Group to share the development burden for not only hybrid technology but also for new transmission and engine tech. BMW Exec Klaus Draeger revealed during an interview with Auto Motor und Sport that component sharing between the three carmakers was feasible within the next four years but there are no plans for common platforms.

With PSA, Draeger hopes to see further co-operation in engine development and referred to the deal it shared for the new Mini engine as an example of the success that could be achieved. He believes that the technology can be shared without compromising brand-specific characteristics of the engines.

Unfortunately for Draeger, Mercedes-Benz has rejected a prior proposal from BMW that the two luxury carmakers should work more closely in the future, as revealed by Mercedes marketing Chieft Klaus Maier. BMW director Michael Ganal told reporters last month that execs were hoping for a tie-up with Mercedes. We’re still waiting on an announcement from France’s PSA.