BMW i5 Electric

BMW would begin making a slew of electric vehicles under its new “i” brand. The compact BMW i3 hatchback and BMW i8 coupe featured in the latest Mission: Impossible movie are expected to be the first two to bring BMW’s brand sport-oriented flavor to the green masses. But those cars are at very different ends of the spectrum. What would slot in between, you ask?

Reportedly, BMW has finalized what its third electric vehicle, the BMW i5, will be like. According to Germany’s Autobild, it will be a tall midsize car that will be much like the 2012 Toyota Prius v, except it’ll likely be fun to drive. The magazine is also saying it’ll have sliding doors, a commodious cargo hold, and 170 horsepower going to the rear wheels via an electric motor at each rear wheel.

Much like the BMW i3 from which it borrows the electric powertrain, it should be one of the more powerful electric vehicles on the road. Also like the i3, it will have an available 90-horsepower gasoline-powered three-cylinder engine to serve as a range-extending power generator.

Prices in Germany are expected to start at around $65,000, but overseas customers have traditionally paid more for European vehicles than we do when they’re sent stateside. The i5 is expected to launch around 2015, not long after its i3 and i8 counterparts hit the market. We’ll keep you updated with new information as we receive it.

Hyundai to sell 7 million vehicles in 2012

South Korea's Hyundai Motor Group aims to sell 7 million vehicles in 2012, an increase of 6.1% from 6.6 million units it sold globally last year.

The company said it will continue to increase investments in developing environment-friendly vehicles such as hybrid and electric cars to strengthen its global market presence.

Hyundai Motor Group chairman Chung Mong-koo said in order to achieve the 7 million target, the group has to keep up with fast-changing global trends by setting up an organized cooperation system for better communication among its production facilities and sales locations across the world.

"In 2012, growth of the car industry is forecast to slow down and competition will be fiercer," Mong-koo said.

"We have to establish a foothold as one of the global top companies with more solid management.

"The third plant by Beijing Hyundai and an assembly line in Brazil will start mass production later this year, which will complete their global production network with 30 production facilities in nine countries."

The automaker also plans to increase the number of experts and expand investment in developing environment-friendly technologies and a high-end brake system.

The automaker said it would invest a total of KRW14.1 trillion ($12.16bn) in 2012 as part of its investment and employment plan ever, to increase its R&D competitiveness.

The company will invest KRW5.1 trillion ($ 4.40bn) in R&D (compared to KRW4.6 trillion in 2011) and KRW9 trillion ($7.76bn) in facilities (compared to KRW7.6 trillion in 2011).

Of the amount to be invested in R&D, the company will use KRW4.6 trillion ($3.96bn), or 90% on the automobiles sector, to accelerate the development of eco-friendly and fuel-efficient vehicles.

The automaker said that of the investments in facilities, about KRW3 trillion ($2.58bn) will be spent upgrading and building domestic and overseas manufacturing plants for Hyundai Motor and Kia Motors, as well as strengthening their sales and aftersales service networks.