BMW's "Project i" series of electric cars will exist under a different sub-brand, helping the automaker distinguish its more energy efficient offerings much in the same way it differentiates its premium fast cars under the "M" label.
The MegaCity is expected to be BMW's first offering under Project i. Other types of cars, SUVs and motorcycles will be in play, reports Automobile Magazine.
BMW reportedly had been considering launching the electric vehicles under a separate, non-BMW faceplate. The company owns the Mini and Rolls Royce brands, too.
In a bit of a departure, BMW is de-emphasizing its investments in speed, with the announcement that it is ceasing its involvement in Formula 1 motorsports, according to the Globe and Mail. BMW's Formula 1 team had been faring poorly in races, and the company cited the expense involved in maintaining the team while as a company it was trying to focus on making more energy efficient cars.
Other German car companies, including Daimler and Volkswagen, are working on electric car platforms.
