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BMW i3 will come with unusual 'OwnersChoice' non-lease option

In case you were interested in driving a BMW i3 but were afraid of getting into a traditional lease, there's some good new for you. We think. BMW recently announced that it would offer something called "OwnersChoice" and "OwnersChoice with Flex" to make the elegant city EV an easier purchase. Or temporary purchase, anyway. Something called "OwnersChoice with Flex" is not listed on the federal government's consumer information page on vehicle financing and we couldn't get a better explanation out of BMW than the official announcement, but the gist appears to be that an i3 buyer can make a gigantic balloon payment at the end of the contract term in order to pay less in monthly costs along the way. The way Automotive News describes it, the typical balloon note chains the buyer to the car in such a way that, while you can get lower monthly payments, you're still on the hook for the amount of the financing even if you return the car. With OwnersChoice, if you give the i3 back after the contract is done (usually after three years), you're in the clear. With OwnersChoice with Flex, you need to pay up no matter if you keep the car or not, but you can take the $7,500 federal tax incentive and increase your balloon payment by - let's see here, what's the amount? ah, yes - up to $7,500, which would knock $208 (7,500 divided by 36) off your payment every month. BMW Group Financial Services (GFS) came up with this new lease/payment hybrid thing, and Fred Isele, BMW GFS vp of sales and marketing, says it lets owners get, "a comfortable payment for one of the highest technological and efficient premium electric vehicles available to date." BMW GROUP FINANCIAL SERVICES OFFERS 'OWNERSCHOICE WITH FLEX' FINANCING PRODUCT WITH PURCHASE OF NEW i3 -- PROVIDES END-OF-TERM OPTIONS SIMILAR TO LEASING, YET BENEFITS OF OWNERSHIP WOODCLIFF LAKE, NJ – February 25, 2014 – With the launch of the BMW i3, the brand's first premium electric vehicle, BMW Group Financial Services becomes one of the first in the industry to create a financial solution to ownership that provides eligible customers with the options to lower their monthly payment and return the vehicle at the end of their contract term. The financing product called 'OwnersChoice with Flex,' provides eligible BMW i3 customers the option to increase their final OwnerChoice balloon payment due at the end of their contract term by up to $7,500.

Alex Zanardi talks new challenge at 24 Hours of Spa with BMW

"I have overcome greater things in my life than driving at night." When considering Alex Zanardi's tumultuous life and racing career, the notion that he might be worried about racing for the first time at night seems patently absurd the moment I pose the question. But as I've discovered previously, ask Zanardi a question and his reply - even a brief one - will offer analysis. "I'm really looking forward to it," he says, before adding: "Also, it will be much cooler." Zanardi is talking about the latest installment in his racing career - the 24 Hours of Spa - where he will race a BMW Z4 GT3 alongside fellow ex-Formula 1 driver Timo Glock and DTM driver Bruno Spengler. For the second year, Zanardi is running with ROAL Motorsport, and the team has the full weight of BMW behind it as it prepares to go up against 57 other cars on the historic Belgian circuit this weekend. I first met Zanardi last year at Brands Hatch on a hot May afternoon after his one-hour Blancpain Sprint Series race. He was exhausted and downing can after can of cola but still happy to chat to fans as he cooled off. I ask why, if that was such a tough experience, he is prepared to do it for 24 hours. "It's a good question, why would I?" he ponders aloud before quickly adding: "I am confident I am as well-equipped as I can be to face such an enormous commitment." That confidence comes from three developments that have allowed him to be the first disabled driver to race the Spa 24H. Firstly, his athleticism; since Zanardi lost both his legs in the horrific CART accident at the Lausitzring in 2001, he has drawn admiration for his subsequent achievements as a racing driver and paracyclist; the Italian won two golds and a silver at the 2012 London Paralympics in handcycling. The man is seriously fit. The next major change is inside the Z4 cockpit, where he has worked with BMW engineers to adapt the braking system without hindering his able-bodied teammates; having two others sharing the car with him is a new challenge for both Zanardi and BMW. New controls, particularly the brake pedal, were designed with impressive results. "[The engineers] made my life easier quite dramatically via ergonomics, pushing the brake pedal and the footrest where I put my prosthetic feet to the side of the space that was available. "This makes everything better for me. The ratio of the brake pedal is changed.

7 major automakers to build open EV charging network

A new joint venture established by BMW, GM, Honda, Hyundai, Kia, Mercedes-Benz and Stellantis will build a new North American electric vehicle charging network on a scale designed to compete with Tesla's industry-benchmark Supercharger network. The 30,000-plus planned new chargers will accommodate both Tesla's almost-standard North American Charging System (NACS) and existing automakers' Combined Charging System (CCS) options, effectively guaranteeing compatibility with the vast majority of current and upcoming electric models — whether they're from one of the involved automakers or not.  "With the generational investments in public charging being implemented on the Federal and State level, the joint venture will leverage public and private funds to accelerate the installation of high-powered charging for customers. The new charging stations will be accessible to all battery-powered electric vehicles from any automaker using Combined Charging System (CCS) or North American Charging Standard (NACS) and are expected to meet or exceed the spirit and requirements of the U.S. National Electric Vehicle Infrastructure (NEVI) program." Critically, the automakers involved will have a say in how the charging tech is implemented, guaranteeing that the hardware will play nicely with each automaker's in-house charging systems. Hyundai and Kia, for example, were hesitant to jump on board the Tesla NACS bandwagon earlier this year over concerns that the Supercharger network is insufficient for powering the two automakers' 800-volt charging systems; similar tech is used by Volkswagen and Porsche.  In addition to providing much-needed capacity and high-output charging for America's growing fleet of electric cars and trucks, the new network will integrate seamlessly with each automaker's in-app and in-vehicle features, rather than forcing customers to use third-party tools and payment systems, as is the case with some existing public charging infrastructure.  "The functions and services of the network will allow for seamless integration with participating automakersÂ’ in-vehicle and in-app experiences, including reservations, intelligent route planning and navigation, payment applications, transparent energy management and more. In addition, the network will leverage Plug & Charge technology to further enhance the customer experience," the announcement said.