BMW and Mercedes announced the development of a new electric car platform that they can share (similar to VW`s MEB platform). The former arch-rivals estimate to save around €7 Billion in R&D costs each. 

In addition to a large number of new electric models, the press release mentioned that the Chinese built iX3 (which will arrive in 2020) will be the first model to use BMW’s fifth generation electric powertrain which features a motor that does not require rare earth elements.

This is an interesting fact since the argument of scarce rare earth materials is often used as an argument against electric cars.