Forget MegaCity. At the Geneva Motorshow, BMW will launch a new sub-brand that stands for low-emission vehicles and a new venture capital company. The brand will also remind people of the initially very controversial iDrive. Or the iPhone.
The BMW M, X, and Z series now get a new sibling. It’s the i series, with a lowercase i. It will first grace what used to be known as the MegaCity carbon fiber on aluminum pure plug-in. That will be the i3. It will be followed by an equally lightweight plug-in hybrid, called the i8.
And there is more that meets the i: According to the Financial Times, BMW said “that it was establishing a New York-based venture capital company called iVentures to invest in providers of premium mobility services. BMW said the fund would be capitalized at up to $100m.”
The fund will invest into providers of mobility services. First to receive funding from iVentures will be MyCityWay, a New York company that makes a “real-time, user-driven, location-aware urban reference app for mobile devices.” Such as the iPhone or the iPad.