With demand for electric vehicles growing, BMW has moved to cancel the production of the i8 hybrid sports car, which it had been selling since 2014.
BMW told Autocar instead of churning out plug-in hybrids it's focusing on new electric vehicles including a compact SUV, full-size SUV, and sedan. The report noted a fully electric sports car is coming in the next few years.
Get your orders in by February
The vehicle manufacturer didn't provide a specific date for when production will stop for the i8 but a spokesman told Autocar that UK customers who want a built-to-order i8 have to get their orders in by the end of February. With the end of life insight, dealers have been discounting the i8, noted the report.
When it was launched nearly six years ago the i8 was hailed as one of the most revolutionary sports cars to roll off the showroom floor. After all, it was a plug-in that could go from 0-60 mph in 4.2 seconds. Thanks to BMW's hybrid technology it can achieve 76 mpg, even with a twin-turbo engine.
Electric vehicles are taking off
Since then BMW has shown it is all in with electric vehicles pouring money and R&D efforts into its lineup. Its also doing its part to expand the market, announcing this summer that it was donating 100 electric vehicles charging stations to be installed in or near national parks located around the U.S. It was the byproduct of a collaboration between BMW and the National Park Foundation.
It's not surprising that BWM would end production of its hybrid sports car. Thanks in large part to Tesla and a growing recognition that more need to be done to save the planet from burning, electric vehicles are becoming much more popular.
That was evident when Tesla reported fourth-quarter deliveries. Tesla reported it delivered 112,000 vehicles across the globe during the fourth quarter, higher than the 106,00 vehicles Wall Street had expected it to deliver. BMW and Tesla aren't alone. Most of the vehicle manufacturers are working on their own EV, which means more choice for consumers.