Says it gives too much power and control to the project’s backer Alphabet Inc.
Partnership would be the first to match an automaker with Google’s 7-year-old autonomous car project.
California-based tech giant earned $4.9 billion in net income on revenue of $21.3 billion in Q4.
The holding company will oversee riskier venture including self-driving cars and internet-connected appliances.
The German automaker owns a fleet services company with the same name and owns the domain, Alphabet.com.