German luxury car maker BMW has unveiled its long-awaited new brand, BMW i, with two new models that will be equipped with electric and hybrid drive systems from 2013.
'This is BMW i - Born Electric', a statement quoted sales director Ian Robertson as saying as the group presented the BMW i3 electric car for city use and the BMW i8 plug-in hybrid for those seeking a more powerful vehicle.
The group said it had also created a venture capital company based in New York to 'significantly expand its range of mobility services over the years ahead', with an initial investment that is to total €73m. The vehicles are to be built at BMW's plant in Leipzig, eastern Germany.
BMW said in November that it would invest more than €500m and create more than 1,000 jobs with a new partner, SGL Carbon, to launch the city car with carbon fibres to reduce weight. The vehicles will also have aluminium chassis, the statement said.
Meanwhile BMW i Ventures will work with the mobile telephone application My City Way to provide services such as car-sharing, route planning and local information such as the location of parking places. The initial roll-out is planned for 40 US cities, and 40 others worldwide, including BMW's home of Munich in Germany.
