BMW already has engine development agreements with PSA (Peugeot-Citroen), Toyota and Daimler. They're even in talks with GM.
Engine development agreements are nothing new, it's all about volume (especially with lower-cost i.e. i8, 1er) to keep overhead at a minimum. I actually like many of the new hyundais, albeit I don't think I'd ever buy one since I've been drinking too much BMW cool-aid of late.