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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: EVSR returns to Mt. Washington, China Mulls $16 Billion For EV Charging

Foxconn and electric carmaker BAIC are partnering to provide an electric car rental service in China. Slated to kick off next month in Beijing, Hangzhou and Jiangsu province, the company, called Henyu, will offer the EV rentals by the hour. Henyu hopes to offer 5,000, to 10,000 electric rental cars within a year, and wants to become the largest EV rental group in China. The company will also deploy BAIC's E150EV to ten cities for rental outside of Beijing. Read more at Want China Times. Hoping to convince more people to make the switch to electric cars, China is considering investing $16 billion to install charging facilities. Anonymous sources have said that an announcement about the program will be made soon. China has already announced and implemented various measures, such as incentives and tax breaks, to encourage more people to drive emissions free and improve urban air quality. China aims to have 30 percent of its government vehicle purchases be EVs by 2016, with higher targets after that. There's more from Bloomberg. BMW is launching a campaign to highlight technology features from the i8 to be used in other BMW vehicles. Called BMW Innovations, the program will include television ads showing how the i8's full-color heads-up display, LED headlight technology and Surround View Camera System are making their way into cars such as the 3 Series, 5 Series and X3, respectively. BMW Innovations also includes digital and social media campaigns, as well as hands-on technology presentations at dealerships. See the new ads below, and learn more in the press release. EVSR is set to return to Mt. Washington for the Alternate Energy Summit. It is the team's first time back since EVSR set the electric vehicle record at the Climb to the Clouds hill climb earlier this year. EVSR will run the cars up the hill again, and it will hold a workshop about electric racing, called "Redefining Motorsports - A How-To Guide for Creating a Revolution in Speed." The Alternative Energy Summit takes place on September 13 and 14 as part of National Drive Electric Week, and is free to the public. Read more in the press release, below. BMW Debuts BMW Innovations Campaign Showcasing Key Technology Features. Woodcliff Lake, NJ – August 27, 2014... BMW of North America will introduce a new campaign, BMW Innovations, which will highlight how the range of BMW vehicles share several key technology features with the visionary BMW i8, a plug-in hybrid high-performance vehicle.

2016 BMW X5 M is big and bold, not beautiful

Awesome as it is, the BMW X5 M has never really been an attractive machine. Big and bulgy are the themes here, and that's only more pronounced with the X5's most recent refresh. But no matter, the X5 M has never been about looks - for this machine, it's all about performance, and BMW's hi-po crossover absolutely delivers in this regard.
Under the hood is the familiar 4.4-liter, twin-turbo V8, though power has been boosted to 567 horsepower and 553 pound-feet of torque - healthy increases of 12 and 53, respectively, compared to the outgoing model. Hitting 60 miles per hour is said to take just four seconds, which is damn impressive considering this thing weighs well over 5,000 pounds.
But the X5 M has always been shockingly good to drive, with limits you'll never reach except in the most hardcore track scenarios (which we'd really like to see, by the way). It's not the prettiest thing ever, but that's okay. It's not exactly cheap, though, with prices starting at $99,650. Woof.