Electric 3 series planned, report says

FRANKFURT — BMW will introduce an electric version of its 3 series at the Frankfurt auto show in September, a German newspaper reported last week.

The electrified 3 series will have a range of 248 miles and is seen as a direct response to the early success of Tesla's Model 3, which goes on sale later this year, according to Handelsblatt.

Tesla has received hundreds of thousands of reservations, with a deposit of $1,000 each, for the Model 3. Tesla plans to start volume output of the Model 3 this month.

BMW declined to comment.