BMW has just unveiled its long-anticipated electric vehicle i3 hatchback. The German automaker has slowly been testing out electric drivetrains through its Mini Cooper subsidiary and through its ActiveE demonstration model. BMW hosted a series of elaborate events for the i3 on Monday in London, New York, and Beijing. It’s expected to price at $41,350 (plus a $925 delivery charge) in the US prior to incentives. It’s impressing analysts who see the automaker taking the technology very seriously, including investing $2.7 billion into it so far. The i3 can travel about 100 miles on a charge, and there’s also an optional diesel or gasoline range extender package you can buy that allows the car to travel about 300 miles. BMW has utilized lighter materials to extend the range; it’s built on a carbon-fiber based shell and an aluminum chassis.
Competitors will include other luxury brands with alternative technologies such as Lexus hybrid models, though it’s expected to be targeted primarily against German competitors in the home market. The most direct competition overseas will be Tesla Motors. The most popular version of its Model S is pricing at around $70,000. It will take until late 2014 for Tesla’s Model X crossover to come out and go more direct with the i3 in styling and pricing.
