The Battle for the Luxury Electric Car

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July 29 (Bloomberg) -- Bloomberg's Willem Marx and Alan Ohnsman discuss BMW's new I3 electric vehicle, comparing and contrasting to Tesla. They speak with Trish Regan and Adam Johnson on Bloomberg Television's "Street Smart." (Source: Bloomberg)

Investors lacking the after hours.

Bmw is getting electric.

The electric car, how does that affect tesla?

Take a look.

All right, to discuss the electric light, we have the in- house card route and the bloomberg news reporter.

I want to start with you because you spoke to the bmw c.e.o. last night.

What does he say about competition?

This is what he had to say about that competition.

The success of does la is very encouraging because it means the market for electric vehicles is growing and you can see the market in the year 2012 of around 93,000 vehicles in the expectation in the year 2013 is around 150,000 vehicles.

That is the success of tella and other car manufacturers.

It is still a tiny proportion of global sales, interesting to see if they do something for that.

They need help to articulate that market before hand?

They have been given a clear idea of what is possible.

The price point is competitive, $41,000 for the cheapest model.

The price difference is amazing.

This one comes with an extra added perk in case you were planning on taking a long weekend somewhere.

We understand you have anxiety of how far this car will go, range anxiety.

If you want to go on a road trip, they can lend you an x3 for a few weeks.

It makes you feel better about going the electric route.

His bmw going to be able to compete with this space?

They are coming in and a somewhat different position.

This is an interesting product and we have not seen anything quite like this.

They are positioning it between the nissan leaf and chevy volt.

A key difference is that it is considerably less range for the base price.

You're only going to go about 80-100 miles.

The interesting twist is making available the optional reserve gasoline tank that will function as a generator, like the fuel and engine due in the revolt.

It will double the range potentially.

It is an interesting idea.

In addition to having access to a conventional model, you can get this back up fuel tank to get you back home.

Bmw is getting there with this announcement today.

Who else might be trying to conquer this space?

There is also talk of mercedes , slightly behind bmw, but they are getting involved in this business.

This text has been automatically generated. It may not be 100% accurate.

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