The electric vehicle market in the U.S. will get a little more crowded next year.
German auto giant BMW will unveil its new i3 electric car later this month at presentations conducted in New York, Beijing and London. The i3 will become available to consumers in the U.S. during the second quarter of 2014, USA TODAY notes.
The base price for the i3 will be $42,225. It will compete with a number of electric cars from major automakers, including Ford (F), General Motors (GM) and Nissan (NSANY).
Featuring a lightweight carbon-fiber passenger cabin and aluminum chassis, the i3′s battery can be recharged to 80% capacity in 20 minutes using the DC Combo charging system.
While auto-makers have been rushing electric vehicles to markets, they have not proven a particular success with consumers. Ford recently cut the price of its Focus EV, following similar moves by GM with regard to its underselling Chevy Volt.