Tesla CEO Elon Musk said his company is chatting with German automaker BMW, with the two companies discussing a potential partnership to develop batteries and lightweight components. The two companies met earlier in the year to discuss charging stations that can support electric vehicles, and as electric vehicle development increases, sharing research would be able to benefit both sides.
"We [Tesla and BMW] are talking about whether we can collaborate in battery technology or charging stations," Musk said in the Der Spiegel magazine.
Tesla isn't against working with other automakers, as the US company has partnered with Toyota to research electric SUVs, and currently collaborates with Mercedes-Benz.
The Tesla stock received a 1.1 percent boost in early trading on Monday morning, mainly due to news reports of the potential relationship.