BMW will launch a new flagship model with autonomous capabilities in 2021, calling it "the next generation of electro-mobility".
Currently referred to as the iNext, the car will be either a plug-in hybrid or fully electric.
Announcing the news at the AGM in Germany, chairman Harald Kruger said it would be a "new innovation driver", highlighting the autonomous ambitions of the company.
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The iNext will also have a "lightweight design", a completely new and fresh interior design, as well as being a true next generation vehicle.
Earlier this year, BMW revealed the Vision Next 100 concept as part of the firm's centenary celebrations. The ultra-futuristic design showcased a number of technologies the automotive industry may move towards over the next century, although the car we’ll be seeing in five years won't be nearly as futuristic.
According to The Verge, we don't even know if it will be a saloon to take on cars such as the Tesla Model S, or even something a bit sportier like BMW i8.
"But", the site adds, "BMW is making it clear that its current electric cars – the i3 and i8 – are no fluke." The company is in the process of bringing plug-in technology to most of its range and we can expect more fully electric "i" cars.
Bloomberg says the iNext will be the centrepiece of BMW's efforts to "defend its position in the luxury car market" as it responds to pressure from the likes of newcomer Tesla and traditional rivals such as Mercedes-Benz.
The site adds that BMW is set to lose its ranking as the world's bestselling "luxury" car brand this year for the first time since 2005.
