21 Feb '11, 6pm

BMW launches new electric/hybrid brand

BMW launches new electric/hybrid brand

FRANKFURT: The German luxury carmaker BMW unveiled on Monday its long-awaited new brand, BMW i, with two new models to be equipped with electric and hybrid drive systems from 2013. The group is also creating a venture capital unit to offer mobility services such as car sharing and navigation systems. "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 added that it had created a New York-based venture capital unit to "significantly expand its range of mobility services over the years ahead," with an initial investment that is to total $100 million (73 million euros). The vehicles are to be built at BMW's plant in Leipzig, eastern Germany, which will benefit from an investment of 400 million eur...

Full article: http://www.channelnewsasia.com/stories/afp_world_business...

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