The BMW Group debuted its first mass production electric vehicle, the BMW i3, simultaneously in New York, Beijing, and London earlier this week where the company said it has high expectations for its new model.
"We're not entering to be a niche player," BMW sales Chief Ian Robertson told reporters at the i3's launch event in London. "We're targeting meaningful sales," he said, in an electric-car market that BMW expects will grow to between 150,000 and 160,000 vehicles globally this year, from 7,000 in 2010.
The company declined to give sales or production goals for the four-seat model, but during an interview with Reuters BMW Chief Executive Officer Norbert Reithofer said he believes the new EV will make a "positive contribution" to earnings right away.
The automaker believes the new i3 is capable of achieving around 80-100 miles on a single charge. The vehicle comes equipped with a 170 hp electric engine according to BMW according to Reuters.
The new electric vehicle is also available with a range-extender, which "maintains the charge of the lithium-ion battery at a constant level en route, as soon as it falls below a specified value" according to BMW. This is achieved by a two-cylinder gasoline engine with 34 hp, mounted together to the electric motor above the rear axle.
The i3 can go 0 to 60 in just 7 seconds according to BMW. With a fast charger, the vehicle can recharge completely in about a half hour. A 220-volt charger is capable of charging it in about three hours.
"The BMW i3 sets a new benchmark for sustainable mobility in all stages of development and production, as well as after sales," said Friedrich Eichiner, Member of the Board of Management of BMW AG, Finance, at the unveiling of the BMW i3 in Beijing.
The base price for the i3 has yet to be released but it will most likely be sold for around $41,350 or $45,200 in the U.S., plus destination fees.
Reithofer said Tesla Motors is "an example" of how a premium car company could approach the EV car market and said he believes BMW will be able to help change people's perceptions on what an EV should look like.
"Tesla is one of those brands which is trying to make this type of car premium and emotionally involving," said Adrian van Hooydonk, senior vice president of group design for BMW, according to Reuters.
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