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BMW is to produce a hybrid version of its new Five Series and will also take the Three Series forward with a hybrid version, chairman Norbert Reithofer told the group’s annual meeting in Munich today.

The new Five Series hybrid will be available from next year. Reithofer said the group would work “with modules in this field, choosing the most suitable hybrid solution for the respective model”. BMW has already put hybrid versions of the Seven Series and the X6, its top of the market ranges, into production.

Reithofer said going for hybrids was necessary because of public perception of environmental friendliness “despite the fac t that diesel engines are often much more efficient”. He said that Japan’s offer of tax credits for hybrid vehicles had had “a phenomenal effect on the market”.

He added: “Sales of hybrid vehicles have skyrocketed. If you don’t have a hybrid in your portfolio, soon you might not be selling any cars in Japan at all.”

Reithofer also announced that the Megacity Vheicle, BMW’s first mass-market electric vehicle, would be launched in 2013 as a sub-brand of BMW and would be built in Germany. The group’s Leipzig plant has been identified as the production site.

Reithofer said: “Simply put, we are on the verge of revolutionising vehicle production. We aim to set new standards, for example in the field of lightweight construction. We will apply carbon and carbon-reinforced materials at a scope unprecedented in series vehicle production.”

© PE Publishing Ltd, 2010