For years, BMW resisted building hybrid cars, believ-rning that more efficient gasoline or diesel models were a smarter bet. But as the hybrid gives way to the all-electric vehicle-at least in the eyes of optimists-the German automaker aims to be at the front of the pack. BMW is spending more than $1 billion to develop a small car for urban drivers that will include an electric-powered version. "We [in the auto industry] have the internal combustion engine so strongly fixed in our minds that we think it will last forever," says BMW Chief Executive Norbert Reithofer. "I don't believe that."
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