The company says it has already had 15,000 inquiries before order books open on July 23.
Production of the Mini Electric will begin in November. The first deliveries of the car, with a list price of £24,000, are due in 2020.
The new Mini, with a list price of £24,000, is BMW’s first all-electric car with a range of up to 270km. It can also do 0-60mph in just over seven seconds.
In the interests of safety, the car will emit a noise at low speeds so pedestrians will be able to hear the otherwise-silent car approaching.
Investment in the new vehicle will help preserve the jobs of more than 5,000 people in Oxford who produce more than 230,000 Mini and Mini Clubman vehicles per year.
BMW Board Member Oliver Zipse said: “We are entering an era in which electric cars will become a normal choice for our customers. The MINI Electric will kick off our new model offensive for fully electric vehicles. By 2023 we will have 25 electrified models on the market. More than half of them will be fully electric.”
Whilst the car will be built in Cowley, the electric motors will come from Germany. BMW executives decided to build the car in England despite concerns about Brexit.