BMW has been on the record since 2008 in saying that it intends to produce electric vehicles as a hedge against rising fuel prices and tightening emissions regulations.  After two years of rigorous planning and rampant speculation, the pieces for their secret “megacity” green project are finally coming together.

The company confirmed earlier this week that it will build an all-new facility in Washington State to manufacture lightweight carbon fiber reinforced plastics.  Carbon fiber is significantly lighter than the steel, aluminum, and fiberglass found in most modern vehicles but it has so far been used sparingly because of high cost.

With this new manufacturing plant, BMW intends to leapfrog the automotive industry by both reducing the cost of carbon fiber and by using it as a greater portion of a vehicle’s primary structure.  Friedrich Eichner, a BMW board member, bragged that the company, “will be able to produce carbon fiber enhanced components in large volumes at competitive costs for the first time.”

This is great news for electric vehicles, where low weight is key to increasing the car’s driving range.  BMW knows all too well that expanding range at a reasonable cost is critical to their success.  The company has been in the midst of field trials with its Mini E electric vehicle and early criticism has centered around the car’s limited 100-mile range.

Cost-effective carbon fiber is a major breakthrough and could potentially give the company a leg up on its major EV competitors, Tesla and Nissan.  Beyond that, the new lightweight materials could also be used to increase fuel economy on BMW’s conventional gasoline- and diesel-powered offerings.

It’s light as a feather, stiff as a board, and key to the future of automobiles.