BMW Lunches New Electric Car

BMW has revealed its first all-electric car, saying it plans to clinch a significant share of a market still in its infancy.
Launching its BMW i3 model, the German group compared the prospects of the electric car market to the technical revolution of the mobile telephone, but declined to give any sales or
production targets."What the mobile phone
did for communication, electric mobility will do for individual mobility," chief executive Norbert Reithofer said as the car debuted in London, Beijing and New York.
"The series-produced model will go on sale in Europe in November to be followed in the United States, China, Japan and several other markets in the first
half of 2014. It will hit the German market at a price of 34,950 euros (N7.4m).