(Photo: CGTN)

Germany's Volkswagen is in talks with other carmakers to set common standards for self-driving vehicle technology, Automotive News reported on Friday.

The Volkswagen Group is discussing the initiative with more than 15 potential partners, according to the report, which cited an anonymous company executive. It did not identify any of the other companies involved.

Carmakers, suppliers and technology companies are already investing more than 55 billion euros (64 billion US dollars) globally in autonomous driving, consulting firm AlixPartners estimates.

Manufacturers including BMW have indicated they would welcome common standards on aspects of self-driving cars including the configuration of their sensors.

By pooling such blueprints, they could hope to reduce costs as well as their individual accident liabilities in relation to shared technological choices.

Contacted by Reuters, a Volkswagen spokesman declined to comment on the Automotive News report, but added, "We always look for partnerships."