BMW to Price the i3 Around $40,000 image

BMW’s CEO of North America Ludwig Willisch announced that the i3 electric vehicle will be priced around $40, 000, almost the same as the 3-series sedan.

The final price for the five-door compact will be announced closer to the model’s launch later this year. The i3 EV is fitted with an optional two-cylinder, 0.65-liter gasoline motorcycle engine and will have an auxiliary generator that charges the battery. The price for this version of the vehicle was not disclosed. Although BMW said it has not ended discussion with the government, the model might qualify for a $7,500 federal tax credit.

Marcus Krieg, a sales and marketing manager, said that BMW will offer optional at-home fast-charging systems for the EV model, which will hit the market at the end of this year. Owners of the model will have the possibility to borrow a gasoline-fueled model from their dealer for the traveling requiring longer range. The automaker said that the model will not be a volume car as the EV market is not where automakers’ expected it to be and demand for such vehicles is still low. In 2012 only 57,000 EVs were sold in the US.

“The BMW group is charting new territory,” said Harald Krueger, the carmaker’s head of production. “We are confident we will earn money with every BMW i3 we sell from the launch on.”

Source: Automotive News