Luxury car maker BMW is looking at launching a fourth brand alongside the Mini, Rolls-Royce and BMW. German business magazine Wirtschaftswoche is now reporting that the Bavarians are in search of an engineering firm that will help them develop a series of eco-friendly vehicles for a new brand.

BMW aims to embrace new car styles and technology in a strategic push to address the problems faced by the world’s expanding cities in dealing with emissions and congestion.

BMW have three options:

1. Acquire an existing brand that’s for sale ,Volvo being the name thrown around

2. Create a new brand

3. Revive a brand using one of the names , they still own the Triumph name rights

Each option has its advantages and disadvantages but in the end, the economy will decide what’s best for BMW.

By 2012, BMW aims to increase annual production from 1.4 million to 1.8 million vehicles, and raise productivity and selling prices.