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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.

BMW confirms limited i3 Electronaut Edition, says i5* is in development [UPDATE]

Jacob Harb, head of electric vehicle operations and strategy for BMW, is excited these days. He's got a lot to sort out as the company's first large-scale production electric vehicle, the i3. Extending Electronaut leases, arranging tens of thousands of EV test drives and making sure there will be enough of the little city cars in the US when customer deliveries will start in May. Oh, and he's already working on the next BMW EV, which we think is likely to be the i5. During the Detroit Auto Show this week, Harb declined to name the model (surprise) but he did tell AutoblogGreen, "You can probably take an educated guess at the next thought process, something a little bigger, maybe a little more range, relative to the i3. We've got everything trademarked and we're exploring the best, next iteration. It is coming. It's in development now." [See update below.] An i5 has been rumored for years, but Harb said he's flying to Munich next week to "start the discussions further" on BMW's next-gen EVs. The Electronaut Edition i3 is "a thank you to them for being part of this broad journey with us" - BMW's Jacob Harb But there's much more to do, given the upcoming i3 launch. For one thing, leases for the first participants in BMW's Active E electronaut program - which started in January 20121 - will end in the next week or so, and those who want to get an i3 – and an "overwhelming majority" have said they are interested - may get their leases extended so they don't have to revert back to a gas car in the meantime. BMW dealers will be able to start ordering the i3 in "the next few days" and the Active E Electronauts will get the first of those cars off the production line, "as a thank you to them for being part of this broad journey with us," Harb said. There will also be a special Electronaut Edition of the i3, that will be upgraded from the standard i3 at not cost. Harb wouldn't say what's different, just that the "options and features" will serve to identify the car from the outside. It will be "as unique and compelling as possible," he said, with details coming in the next few weeks. The i3 is already on sale in Europe, the company won't start making US-bound vehicles until March. Since there are no official i3 orders in the system yet, Harb didn't know exactly what the split will be between pure EV and the range extender version, but that his estimate is 50/50. He also wouldn't talk about production numbers, but did say that.

BMW against Merkel's female board member quota in Germany

There may soon be more women in power positions in the world of German business under a proposed law from Chancellor Angela Merkel's coalition government. If passed, the law would force large, publicly traded corporations to have female members make up at least 30 percent of their supervisory boards (which are responsible in part for business strategy) by 2016. In addition, all companies would have to increase the female proportion on their management boards, which conduct regular business. The law seems likely to pass next month. "We've decided to do this and it will happen," said Merkel in a speech about the new rule, according to Bloomberg. Women currently have just six percent of management board seats in the country. Big businesses in the country aren't on board with proposed law, including automakers. "BMW as a company doesn't believe in quotas," said spokesperson Jochen Frey to Bloomberg. "While we hold that opinion, we want and strive for diversity in our workforce in terms of gender, ethnicity and age." Currently, 25 percent of Bimmer's supervisory board is female, a bit higher than the national average in Germany of 22 percent. German car companies are hardly alone when it comes to having a paucity of women in positions of power. Honda only added its first female member to the automaker's board of directors earlier this year, and Toyota and Nissan showed similarly low numbers. A 2013 list from Fortune ranked many of the most powerful women in the auto industry as coming from North America.