The automakers plan to jointly develop and produce a new family of gasoline 4-cyls. to be used in future hybrid models from both companies at a factory in China from 2024, according to a German newspaper.

Mercedes-AMG introduces what it says is the world’s most powerful 4-cyl. car engine, producing 209 hp/L. Codenamed M139, the engine is hand-built at AMG’s engine plant in Affalterbach.

The new company will focus on five mobility services, including car-sharing and ride-hailing.

The CLAR platform used by the iNext has been conceived to incorporate a new autonomous technology that BMW Chairman Harald Kruger says will eventually offer Level 5 autonomy functions allowing driverless urban travel.

The Vision Urbanetic is based on a self-driving, electrically powered skateboard-style chassis that can function either as a roomy ride-sharing vehicle or cargo transporter.

The production version of the Concept iX3 is planned to be the BMW Group’s third all-electric model, following the recently facelifted i3 and a production version of the earlier Mini E concept due out in 2019.