BMW Invests $560M in EV Technology

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Compared to other automobile manufacturers, BMW has been behind in electric car research and development. Considering the demographic to which BMW markets, the lack of such a move was surprising. Early adopters with plenty of pocket change are a compelling demographic for BMW.

Compared to other automobile manufacturers, BMW has been behind in electric car research and development. Considering the demographic to which BMW markets, the lack of such a move was surprising. Early adopters with plenty of pocket change are a compelling demographic for BMW. So far efforts had been limited to the Mini E pilot program, but with the whopping monthly lease payment and some customer service issues, the response to the Mini has been mixed.

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BMW has taken a large step forward, however. The quintessential German firm announced it will invest about US$560 million in electric vehicle manufacturing. That Mini E trial will lead to a broader range of EVs after all.

The boost in spending will keep some BMW designers, engineers, and production line workers busy the next few years. For now the spike in EV spending will create about 800 jobs at BMW's Leipzig plant. By 2013, what BMW describes as its "Mega City Vehicle" will churn out of the assembly lines.

To that end, BMW's executive defended its relatively slow development of EVs, with an insistence that a move to an electric power claim requires a "radical" redesign. And in BMW's defense, the company has tinkered with several plug-in designs and may have finally found a fit for its product line.

Article continues: http://www.triplepundit.com/2010/11/09/bmw-invests-us560-ev-technology/