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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.

Recharge Wrap-up: Range-extended EV taxis in London, 2016 Chevy Volt interior two years old

The first Metrocab range-extended EV taxis are operating on the streets of London. The cabs use a 12.2-kWh battery and two 50-kW motors, as well as a 1.0-liter gasoline range extender. Fuel economy is 98 MPGe on the ECE101 cycle, and total driving range is over 348 miles before needing to charge or refuel. Cabbies can expect to save GBP20 to GBP40 (about $30 to $60) per day on average. "The cash savings on fuel are significant, the ride and comfort outstanding, and my first customers are thrilled with the new cab," says the first operator of the new EV taxi, Preston Morris. "With its air suspension providing unrivaled comfort, panoramic glass roof for views of the city and silent powertrain, what's not to like?" Read more in the press release below. Chevrolet has had the interior design of the 2016 Volt finished for two years already, according to GM interior designer John McDougall. Beginning around 2010, GM received sketches from designers worldwide before narrowing it down to a handful of designs. Then the top three choices were molded from clay. The chosen theme was then refined for up to 18 months. "Every little thing you can imagine goes into that," says McDougall. "The glare angle from the windows, the placement of the controls, the placement of the seat. You have to create something that's beautiful and functional." Read more at GM Authority and at Inside EVs. More details have emerged about the Second Life Batteries Alliance. Vattenfall has announced a research project in partnership with BMW and Bosch to use retired EV batteries for stationary, grid-connected energy storage in Hamburg, Germany. Over 100 lithium-ion batteries from BMW i3 and ActiveE vehicles will make up a two-mWh storage unit for grid balancing, enough to power 30 four-person households for a week. The system is "compact enough to fit in a small building," says Bosch. Such storage systems are especially fit for storing and moving alternative forms of energy, which often fluctuate in supply more than electricity from a traditional power plant. Vattenhall will operate the storage unit for 10 years, with Bosch managing the batteries, during which time the three partners hope to learn more about battery applications and their performance over time. Read more at Green Car Congress, or in the press release below.

The Rinspeed Etos is a BMW i8 that drives itself and comes with a drone

Outlandish as they can be, we've grown accustomed to seeing Rinspeed unveil its avant-garde concept cars at the Geneva show every year. But this time the Swiss studio will present its latest showpiece outside of its native country, taking the veil off at CES in Las Vegas. It's called the Etos, and takes the advanced concept of the BMW i8 even further. Frank M. Rinderknecht and company designed the Etos around autonomous technology. Now if you're wondering why anyone would need a self-driving sports car, we're with you. But if Rinspeed is out to capture our attention, the svelte shape, eye-catching yellow paint, and 20-inch Borbet alloys have certainly done that much. Recognizing the transformation possible in the cabin of a self-driving automobile, Rinspeed fitted the Etos with a retractable steering wheel. That allows unfettered access to a pair of 21.5-inch ultra-HD widescreen displays hooked up to a connected infotainment system that learns from the driver's (or occupant's) habits to minimize the necessity to manually input information. No less than eight exterior cameras work in conjunction to all but completely eliminate the notion of the blindspot. But like so many mullets festooning the streets of Las Vegas and the slopes of the Swiss Alps alike, the party trick is found around back. Not unlike a megayacht with a helipad, Rinspeed fitted a remote-control helicopter on the rear deck that can be used for anything from selfies on the go to retrieving packages along the driving route. The drone lands on a platform with 12,000 individually controlled LEDs and covered in Gorilla Glass furnished, as with the glass roof, by Corning. Combine the drone with the ability to pay tolls and other charges through NFC signal while charging your phone inductively, and the driver/occupant may never need to get out of the car unless he or she wants to (and the singularity controlling all these systems permits). Fortunately Rinspeed made the interior a comfortable place to be, filled with niceties and distractions from a watch winder on the dashboard to the ceramic and titanium trim to the San Francisco skyline stitched, for some reason, into the seatbacks. Few of these features strike us as strictly necessary, and the most outlandish of them (we're looking at you, drone) will likely never be implemented on a production automobile. And what features do will likely find their home in more accommodating vehicles than a two-seat sports car.