BMW To Get Into Electric Car Business

DETROIT (WWJ/AP) – Another major auto manufacturer is getting into the electric car business.

WWJ’s Rob Sanford says the nameplate is mostly associated with high end vehicles.

Although it’s still a year from reaching U.S. showrooms, BMW has set a price of $42,275 for the new i3 electric vehicle that will serve as the launch platform for its all-new battery-car brand-within-a-brand, BMW i.

The little battery-electric vehicle will primarily target urban commuters who are looking for more than just basic transportation. An official unveiling of the production i3 set for Monday.

The BMW i3 will be powered by a 170-horsepower electric motor and will draw power from a 22 kilowatt-hour lithium-ion battery.

(TM and © Copyright 2013 CBS Radio Inc. and its relevant subsidiaries. CBS RADIO and EYE Logo TM and Copyright 2013 CBS Broadcasting Inc. Used under license. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. The Associated Press contributed to this report.)

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