In this paper, we present an integration and simulation platform built upon standards, and outline its capabilities on the basis of a powertrain co-simulation example. We start by introducing the challenges of system simulation in general and powertrain cosimulation in particular. Instead of programming singular and proprietary solutions to integrate and simulate models from different domains (e g, control models coming from tools like ASCET or Simulink, and plant models coming from Modelica tools), we are building our solution upon standards. We focused here on AUTOSAR as a standard for AUTomotive Software ARchitecture and FMI (Functional Mockup Interface), as a standard for model exchange and co-simulation. While AUTOSAR arrived at a certain maturity level, it was a breakthrough for us to fulfill the tight synchronization requirements of the powertrain co-simulation (e g, time-triggered and crank angle-triggered synchronization) within the FMI-based integration and simulation environment. Details about how suitable solvers can be combined and how an appropriate master algorithm can orchestrate the co-simulation of control and plant models using the FMI standard are presented. We further show how it is possible to have a seamless transition approach, from Model in the Loop (MiL) to Software in the Loop (SiL), e.g., by replacing the control model by control software, in the same environment. A fundamental contribution to the accurate powertrain co-simulation was the adequate encapsulation of e.g. scheduling information of processes in the FMUs (units implementing the FMI standard interface), both at model level (in the FMU containing an ASCET model), as well as at the control software level (in the FMU establishing the bridge to the virtual ECU). Experimental results illustrate the specific achievements of our integration and simulation platform.