BMW i3 to be priced around $40,000

According to Automotive News, the BMW i3 electric hatchback will likely be priced around $40,000, or similar to that of a well-equipped 3 Series sedan, when it goes on sale later this year. This information was revealed during an interview where AN spoke to Ludwig Willisch, CEO of BMW North America. The i3 will likely qualify for a $7,500 tax credit from the US federal government, though AN reports that a BMWspokesperson could not confirm this just yet.

In addition to the all-electric i3, BMW will offer a range-extended version that uses a 0.65-liter two-cylinder motorcycle engine and auxiliary generator to charge the car's battery on the go. Automotive News says pricing for this model is still unclear, as is whether or not the range-extended i3 will be eligible for the $7,500 tax credit. Of course, buyers needing a vehicle for longer trips will be able to borrow one from the automaker.

Automotive News also reports that the majority of BMW's 338 dealers in the United States will be able to sell the i3, as well as the upcoming i8 hybrid sports car. Dealerships have until June of this year to opt out of this program, however.

Official pricing for the i3 will be revealed closer to the car's launch later this year.

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BMW i3 EV, BMW's first ''born electric'' model

MUNICH -- BMW says its i3 electric compact model can cover up to 220 kilometers (136 miles) on a single battery charge, which can be extended up to 350 kilometers using an optional range extender.

The i3, BMW's first ''born electric'' model, is set to debut in production form at the Frankfurt auto show in September. It will go on sale by the end of the year in Europe, the United States and China.

BMW has not yet announced pricing or volume targets for the i3, but the automaker has already received "several hundred" advance orders for the model, CEO Norbert Reithofer said here at the company's annual press conference today.

"The i3 has a range on a single electrical charge of 130 to 160 kilometers, but with two eco modes the EV range could grow to 220 kilometers," said Maximilian Kellner, head of product management of BMW i division.

The first eco mode, called EcoPro, reduces the torque delivered by the electric motor and the energy used by features such as air conditioning or heating. In EcoPro mode, the i3 adds 20km to its battery range. The second mode, known as the EcoPro+ range, shuts down all systems that use electricity except for safety systems such as ABS and ESC. This adds another 40km of range, Kellner said.

Range extender

The i3 will also be available with an optional two-cylinder motorcycle engine and a generator to extend its range by another 130km on a single tank of gasoline.

The engine is housed in the trunk and connected to a generator that recharges the battery rather than transmitting mechanical power directly to the wheels.

BMW will offer the range extender from launch, but has not yet announced pricing.