The company will offer a more concrete concept of the vehicle this year, CEO Harald Krueger said Thursday at the company's annual shareholder meeting.
The new vehicle is slotted to derive its inspiration directly from the recent Vision NEXT concepts.
The first image of the iNext Vision, or at least a teaser sketch showing the side of the vehicle, was presented by BMW's chairman of the board Harald Krüger during Thursday's annual general meeting.
German Chancellor Angela Merkel has recently sided with local vehicle makers on the subject of hardware upgrades, arguing that time and financial resources would be better spent on the development of the mobility technologies of the future. The iNEXT will benefit the entire company and all its brands.
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Around 850,000 people in Britain now suffer from dementia and there are now no treatments to reverse or slow down the condition. However, they added that it was uncertain "whether the effect on cognitive impairment we observed is important".
BMW is looking to rekindle consumer excitement after a few subdued years during which Mercedes took the lead in luxury vehicle sales with a revamped model lineup featuring vehicles such as the GLC crossover and a reworked sporty A class.
The iNext, he said, would be fully electric, powered by fifth-generation battery technology giving it a range of about 700 kilometres, fully connected and would also offer a new level of automated driving. For the first time, we are combining all key technologies for future mobility.