BMW takes aim at Tesla with new ads

\"The 330e is the car you\'ve been waiting for -- without the wait.\"

BMW has launched a new ad campaign called "Wait or Drive" that makes fun of Tesla's pre-ordering system.

Earlier this year, about 400,000 motorists put down a refundable $1,000 deposit for the Model 3, Tesla's first mass-market model. The sedan is still at least a year away from production, and most reservation holders won't get their car until 2018. The ads argue that BMW's plug-in 330e iPerformance (pictured) is available right now.

"You will pay your taxes twice -- maybe more. You will ring in the new year twice -- maybe more. You will wait, and wait, and wait some more, all before that electric car company's new model ever even arrives," said one of the two ads.

While the Tesla 3 is an all-electric model with a roughly 200-mile range, the 330e is a plug-in hybrid powered by a 2.0-liter turbo four rated at 180 horsepower and an 87-horsepower electric motor. It can drive on electricity alone for about 14 miles, and it returns up to 31 mpg when both power sources are up and running.

Outspoken Tesla CEO Elon Musk hasn't responded to the ad campaign.

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