Starting next year drivers in the Los Angeles and New York areas will be able to lease a fleet of 500 all-electric Coopers from BMW's Mini division.

The Mini E, as it's called, will be able to travel 150 miles on a single charge with a top speed of 95 miles per hour.

For this test fleet of vehicles, BMW will reimburse customers for the cost of charging. But at a monthly cost of $850, driving the Mini E will not be cheap.

Besides the car and electricity, however, the monthly payment will cover all required technical service and maintenance. The cars will be leased on yearly contracts with an option for additional time. At the end of the lease, the cars will be returned to BMW.

Source: CNNMoney.com