Luxury car fans, start your engines — BMW’s very first electric vehicle is on its way. The Megacity Vehicle, set to be released in 2013, is made out of lightweight carbon fiber and aluminum and will be built from the ground up using the company’s “LifeDrive structure”, which is reportedly as strong as steel but 50% lighter than standard aluminum. In comparison, many other automakers base electric models on already-available gasoline-powered vehicles.

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Among the other bits of information BMW has revealed: the car will offer a 35-kWh lithium-ion battery pack, and it will be sporty, stylish, and expensive (like most BMW luxury vehicles). Eventually, BMW hopes to release a plug-in hybrid version, which will likely have an electric-only range of 6 miles.

Beyond those few details, BMW is staying mum about the vehicle. Stay tuned — we’ll keep you updated as more details come to light.

Via New York Times