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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: BMW i3 carshare, Audi e-gas plant

Elix Wireless has announced its E10K Wireless Charging System. The system is designed for harsh conditions, delivers up to 10 kilowatts and features automatic detection and removal of foreign objects. Its low frequency makes it safe to operate near oil and gas, and in other hazardous environments. The system can charge personal vehicles, as well as electric buses, trucks, mining equipment and heavy duty machinery. Elix has "created an entirely new technology that meets customer demand for fast, safe and reliable charging," says, CEO David Smith. The E10K system uses Elix's Magneto-Dynamic Coupling technology, with rotating permanent magnets in the transmitter and receiver. Read more at Green Car Congress, or in the press release from Elix Wireless. FreeWire Technologies and Siemens are working together on a pilot program for the Mobi Charger. The mobile charging station, which uses second-life EV batteries to charge electric vehicles, will be deployed for a trial at LinkedIn's campus in Mountain View, CA. The Mobi is more flexible than stationary chargers in that it brings the charging to the car, regardless of where it is parked, rather than having to park the EV in a specific spot. It can charge up to five cars per day without putting stress on the grid during peak hours. Read more from Siemens. Audi's e-gas plant in Werlte, Germany helps stabilize the power grid. The plant, which produces synthetic methane using CO2, water and electricity, is able to draw six megawatts of power within five minutes, allowing it to become certified in the electricity balancing market. This helps the grid adapt to the larger load fluctuations that go hand-in-hand with generating renewable energy. It also allows the plant to achieve higher operating times and produce more e-gas each year. Read more in the press release from Audi. The BMW i3 is now available through the DriveNow carsharing service in Germany. DriveNow, which is a joint venture between BMW and car rental company Sixt, has put 100 i3s into service in Berlin, Hamburg and Munich. BMW also says that it supports a shift away from private car ownership in order to improve urban living and mobility, and sees electric carsharing as an important part of that. "We are witnessing the changes our customers and society as a whole are making and we are taking them on board," says BMW's Dr. Bernhard Blattel.

Automotive April Fools' joke roundup [w/videos]

Happy April, everyone. And we all know what this first day of the month means: April Fools' Day. Today is a national holiday for pranksters with the Internet acting as a serious enabler, and it's always fun to see what kind of vivid imaginations exist out there in the automotive world. The abundance of fake news gets a little old as the day rolls on, but we did manage to get in a few chuckles thanks to a handful of major automakers and automotive news outlets that got into the pranking spirit this year
Some of our favorites this year includes Subaru showing what happens when you combine a bunch of rumors, a Corvette some may have already thought was a joke or Honda providing some in-car innovation circa the late 1980s. Honestly, we're still waiting for official confirmation from Mitsubishi that the recently introduced 2014 Mirage is an elaborate April Fools' joke using a failed design intended for the 1995 Geo Metro. We dug up as much "official" OEM foolishness we could find, as well as some of our other favorites, and posted them all below.