BMW CEO confirms new sub-brand will sell electric Megacity Vehicle, most likely to be called Isetta (w/ video)

Earlier this week, BMW announced that it has chosen SB LiMotive as the supplier of lithium-ion battery cells for the future “Megacity Vehicle” project. Ever since, we’ve been hearing speculations about what BMW is going to call this new Megacity Vehicle and what brand will the new model be sold under.

Around the same time BMW was releasing new details about its Megacity Vehicle, it was celebrating its BMW Isetta - a 1-cylinder 13-hp compact car that it introduced in 1955. BMW held a huge Isetta campaign with 7,500 miniature Isetta models and a 60-second cinema commercial (which you can watch after the jump) relating the journey of the pocket-sized Isettas from the BMW Museum to the center of Munich.

Reuters is also reporting that BMW CEO Norbert Reithofer confirmed that the automaker will launch a new sub-brand to market its upcoming Megacity Vehicle. Reithofer said that the new sub-brand will sell a range of substantial vehicles.

A source told BMW Blog that ”Isetta will be a reimagining of the original cult classic using today’s and tomorrows technology to provide urban mobility and sustainability in a lovable modern design wholly inspired by the original,” (which sounds like something straight out of a press release).

Previous plans to consider adding a fourth brand to the group’s existing Rolls-Royce, BMW and Mini marquees had been put to rest, Reithofer said. He said that the first vehicle to be launched under the new drive will be an electric car.