Not long after Elon Musk announced that Tesla Motors would be releasing a much more affordable electric car in a couple years, BMW officially announced the prices and specs of its first fully electric effort, the i3. The MSRP for the new city car will be $41,350 before any cash taken off for electric incentives and will have a destination fee of $925 in the U.S.  

The car runs on a 170hp and 184 lb-ft of torque synchronous electric motor and a 22-kWh lithium-ion battery. A single charge will get you between 80-100 miles, which makes it an extremely reasonable city car, which is what it's intended for. Expect its first full unveiling on Monday, July 29, and keep your eyes open for the car to hit roads in the second quarter of 2014. 

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[via BMW