Good news for BMW Group's MINI brand - half of its MINI E customers are renewing their leases for another year.

The MINI E is an electric version of the MINI model and the iconic British brand has 450 of them prowling the streets of Los Angeles and New York in a pilot project intended to test the real-world viability of the car.

Rich Steinberg, in charge of BMW North America's electric vehicle operations, told InsideLine that the brand will only be offering the renewals to private customers and not fleet users. The monthly lease price is also being cut from $850 (€675) per month to $600 (€476).

Under the bonnet of the MINI E is a 150 kW (204 hp) electric motor powered by lithium-ion batteries. The all-electric boasts a range of around 120 miles (193 km). The MINI E is slated for production next year.


Gallery: 50% of Mini E Leasers set to Extend Lease into second year

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