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May 24, 2019 07:57 AM

BMW joins electric scooter market

Oliver Sachgau
Bloomberg
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    After adding the full-size X7 SUV this year, BMW is getting into a much tinier category -- a 799 euro ($890) electric scooter similar to those offered by sharing services Bird Rides and LimeBike.

    In keeping with BMW targeting premium customers, the scooter costs more than double the price of comparable models. It weighs just 9 kg (20 pounds), the automaker said Thursday.

    The rollout of electric scooters, which took over American streets in the past few years, has been slow in Europe because of stricter regulation on motorized vehicles. Their use remains illegal in many places, with sharing offerings in London limited to a single closed-off park.

    Germany this month passed a law to legalize the scooters on the nation's streets, clearing the way for more of them to zoom around city centers.

    The BMW E-Scooter's speed is limited to 20 kph (12 mph). It was developed with scooter developer Micro.

    Volkswagen has said its Cityskater scooter will go on sale by the end of the year.

    Boston Consulting Group estimates that the global market for electric scooters will reach about $40 billion to $50 billion by 2025.

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