FRANKFURT: The German luxury carmaker BMW unveiled on Monday its long-awaited new brand, BMW i, with two new models that will be equipped with electric and hybrid drive systems from 2013.
"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 said it had also created a venture capital company based in New York 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.
BMW said in November that it would invest more than 500 million euros and create more than 1,000 jobs with a new partner, SGL Carbon, to launch the city car with carbon fibres to reduce weight.
The vehicles will also have aluminium chassis, the statement said.
Meanwhile BMW i Ventures will work with the mobile telephone application My City Way to provide services such as car-sharing, route planning and local information such as the location of parking places.
"Mobility requirements are changing in rapidly expanding megacities," Robertson noted.
The initial roll-out is planned for 40 US cities and 40 others worldwide, including BMW's home of Munich, southern Germany.
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