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TURIN -- Fiat and BMW today said they plan to cooperate on platforms and components.

BMW brand development head Friedrich Eichiner said in a statement: "We are currently examining with Fiat group possibilities for the joint use of components and systems in Mini and Alfa Romeo vehicles."

The automakers have agreed not to divulge more details of the possible collaboration, a BMW statement said.

Supplier sources told Automotive News Europe that the companies will develop a joint platform that will underpin the next Fiat Grande Punto, BMW's third-generation Mini and the next-generation Alfa Romeo MiTo.

The two companies are considering developing a new family of gasoline and diesel engines, industry sources told ANE.

The BMW statement said Eichiner and Alfredo Altavilla, Fiat's head of business development, have signed a memorandum of understanding to cooperate on architectures and components.

BMW said cooperating with Fiat will help it achieve economies of scale and cost reductions as part of its Number One strategy.

It said the results of its discussions with Fiat will be known by the end of the year.

Fiat Group CEO Sergio Marchionne said: "The proposed cooperation with BMW is a significant cornerstone of our strategy of alliances."

Fiat already has industrial alliances with other carmakers including PSA/Peugeot-Citroen, Suzuki and Tata.

BMW cooperates in Europe with PSA on engine production and the company has a joint venture in China with Brilliance.

Automakers increasingly are cooperating with competitors to reduce investments costs for new models.

You may e-mail Luca Ciferri at lciferri@craincom.de