With its EfficientDynamics program, electric Mini prototypes and an electric Rolls-Royce under development, the BMW Group is getting serious about its environmental credentials. And now the German automaker has announced a new venture.
Announced earlier today, the i division will be a new range of environmentally-friendly vehicles produced under the BMW banner. Two vehicles will lead the way: the i3, a city car in the same vein as the Smart and the Toyota iQ, and the i8, a production version of the Vision EfficientDynamics concept car.
The company has set up BMW i Ventures with $100 million in capital based in New York City with a variety of initiatives under way, and we expect to head more as they progress.