June 28, 2017 / 6:35 PM / 2 months ago

BMW, competing with Tesla, to introduce electric 3 Series - Handelsblatt

FILE PHOTO: Flags near the headquarters of German luxury carmaker BMW before the company's annual shareholder meeting in Munich, Germany, May 11, 2017.Michael Dalder/File Photo

FRANKFURT (Reuters) - BMW (BMWG.DE) plans to introduce an electric version of its popular 3 Series in September, a move designed to fend off rival Tesla (TSLA.O), Handelsblatt reported on Wednesday. The German carmaker will present the vehicle at the IAA auto show in Frankfurt in September, the paper said. The 3 series, which is a high volume sales model, will have a range of 400 km (248 miles) and is seen as a direct response to the success of Tesla's Model 3, according to Handelsblatt. BMW declined to comment.

Reporting by Edward Taylor; Writing by Tom Sims; editing by Susan Thomas

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