BMW is ready to rock the world of electric cars with the introduction of their new i3 plug-in electric. The car, which will cost around $46,400 already has some 92,000 people who have indicated an interest in getting a test drive. BMW sales executives think that the car will be a great fit in wealthier urban areas and see the market for such vehicles growing a great deal from the 7,000 sold in 2010 to a worldwide market of 150,00-160,000 in 2013.
Urban population growth is expected to go up a great deal, doubling to 4-5 billion in the next 20-25 years, according to United Nations projections. Thus, the market for small, plug-in cars perfect for crowded urban roads will be a serious growth area. Also, many governments like the U.S., subsidize such vehicles through tax breaks and incentives, making them more affordable. So far, the success of pure plug-in cars has been a slow build due to their relatively high cost and a lack of charging stations. However, places like large urban areas in California, with a definite interest in reducing pollution will likely start the ball rolling in a big way.
To read the complete story, please click here.
Image courtesy of inhabitat.com.