Sales Are Booming for BMW's Electric Car

By John Rosevear – Oct 21, 2013 at 6:29PM

OTC: BAMXF

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BMW says it has nearly a year's worth of pre-orders for its new electric i3. Are electric cars finally going mainstream?

The electric BMW i3 hasn't even reached dealers, and already demand has exceeded the company's expectations. Photo credit: BMW

It won't even be released in Europe for another month -- and it won't get to the U.S. until next year -- but already, sales for BMW's (BAMXF 3.93%) electric i3 have been strong. BMW's CFO said this past week that the company already has 8,000 preorders for its first mass-produced electric car -- and BMW is already looking at increasing its production capacity.

Does this mean that electric cars are finally ready for prime time? In this video, Motley Fool contributor John Rosevear looks at how the new BMW stacks up against Tesla Motors' (TSLA 4.96%) hot Model S sedan -- and at how the i3 could be BMW's first step in a big push onto Tesla's turf.

Fool contributor John Rosevear owns shares of General Motors. You can connect with him on Twitter at @jrosevear. The Motley Fool recommends BMW, General Motors, and Tesla Motors. The Motley Fool owns shares of Tesla Motors. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.