BMW CEO Expects i3 Electric Car to Boost Group Profit


German premium automaker BMW expects to reap a "positive" contribution to group profit from every i3 electric vehicle sold, Chief Executive Norbert Reithofer said on Tuesday.

BMW will start selling its Megacity electric vehicle, dubbed the i3 later this year and the i8 sports car in early 2014, Reithofer said during the company's annual general meeting.

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The CEO declined to give a sales target or identify development costs of the i3, to be build at the car maker's Germany-based Leipzig factory.

(Reporting by Andreas Cremer; Editing by Harro ten Wolde)