Munich – Automaker BMW has launched a new $100 million
venture capital investment unit, BMW i Ventures, which will back firms
developing mobile and sustainable technologies.
The unit’s first investment is
in New York-based My City Way, the developer of a mobile app that provides
information on public transportation, parking availability and local
The company also launched a vehicle sub-brand, "BMW
i," which will focus on developing sustainable mobility solutions.
first vehicles under the sub-brand, the BMW i3 and BMW i8, are slated for
launch in 2013.