BMW AG’s rechargeable i8 sports car is entering a soon-to-be-crowded field of supercars with a hint of green. The German automaker, however, isn’t worried about competing with Tesla in the niche because BMW says the cars target different buyers.

“[The i8] is the supercar of the future: It has the driving performance of an M3, but gets more than 80 miles per gallon,” Ludwig Willisch, BMW’s North American CEO, said here last week.

Relative to Tesla’s Model S, the i8 is “a whole different animal — it competes with different concepts,” the BMW executive said.

The early success of Tesla Model S, with about 10,000 North American deliveries in the first half, is signaling there’s a market for premium rechargeable autos.

BMW, Volkswagen AG’s Porsche and General Motors Co.’s Cadillac are all readying plug-in premium cars that could pull sales from Tesla.

BMW will show a production version of the plug-in hybrid i8 coupe at the Frankfurt auto show next month. The car is due to go on sales in Europe and the United States next year. Pricing, which is set to be announced next month, will be less than $150,000 in the United States, Willisch said.

The Model S starts at 71,400 euros in Germany and about $70,000 in the United States. While the Model S is propelled solely by lithium-ion battery power, BMW’s carbon fiber and aluminum i8 uses electric power for the front wheels and a three-cylinder gasoline engine for the rear tires.

The system offers a combined 362 hp to speed the car from 0 to 100kph in 4.5 seconds, while delivering an average of 94 miles per gallon (2.5 liters per 100km), BMW said.

Reporters in the United States got a sneak peek at the i8 last week at the annual Concours d’Elegance classic car show and auction in California. Cameras and phones weren’t permitted when the i8 was shown. Earlier this month, BMW’s showcased an i8 prototype at a test facility in Miramas, France.

Tesla declined to comment specifically about the i8. “The more automakers who commit to making an electric vehicle that customers want to purchase, the more the segment of the industry can grow and become widely accepted,” said Shanna Hendriks, a spokeswoman for the Palo Alto, California-based company.

“Tesla was able to catch lightning in a bottle — almost literally — in the Model S,” said Jack Nerad, industry analyst and executive editor for Kelley Blue Book. “It came at the right time and the right price, and it has established for itself a ‘cool factor.’ Part of the cool factor is the car itself, but other elements include its all-electric drivetrain, the fact that it comes from an independent auto manufacturer and the fact that the independent manufacturer is not from the auto industry but instead from the Internet and high-tech world.”

The success of Tesla’s Model S “absolutely” convinces Munich-based BMW there’s a market for premium rechargeable vehicles, Willisch said.

“If you have a compelling offer, people go for it,” he said. “A lot of so-called supercars being built right now are supercars of the past, based on concepts that have been around for years.”

The i8 differs from Model S in that it is fundamentally a performance-oriented car, said Hendrik Wenders, product manager for the model. “The Model S has its merits, but it is a big sedan,” Wenders added. “It appeals to a different kind of buyer. I do not perceive it as a competitor.”