Official: BMW to Launch All-Electric Megacity Vehicle in 2013

The BMW Group will be bringing its first series-production electric-drive model (codenamed Megacity Vehicle) to the market in 2013, the company announced on Thursday.
"With this innovative vehicle, designed from the ground up, we will be creating new benchmarks for electric mobility from 2013 on, said BMW Chairman Norbert Reithofer. "Our Megacity Vehicle will be significantly lighter than conventional cars and, in terms of sustainability, will set a new standard across the entire value-added chain."
The car is currently being developed as part of BMW Group's "project i" programme and will be available under a sub-brand of BMW, comparable to the firm's "M" badge. In other words, expect to see something in the likes of 'E' or 'EV' series.
Even though details remain sketchy, the Bavarian automaker has confirmed that the finalized Megacity will make extensive use of ultra-light yet high-strength composite CFRP (carbon fibre-reinforced plastic) materials to dramatically reduce weight thus increasing its range and performance.
Previously, Reithofer had noted that aside from a fully-electric drive, the Megacity will also be offered with the option of a high-efficiency combustion engine.
*Opening Photo: BMW's 1994 Z13 Concept