"The iNext project will provide our building blocks for the future, from which the entire company and all of its brands are set to benefit," said Harald Krüger, BMW AG chairman.
BMW says it has designed the car as a mobile environment that enhances quality of life, a new "Favourite Space in which we can be ourselves and relax".
The vehicle will be powered by two electric motors which will give it the ability to accelerate from 0-96km/h in under four seconds, with a claimed maximum range of nearly 600km on a single charge.
The vehicle will also offer level 3 autonomous capability in certain highway situations, meaning it could mostly drive itself but with the driver still having to take over in certain cases, for instance if the road’s painted lines disappear.
Thankfully, there’s still a steering wheel. BMW says owners can choose to drive themselves (Boost mode) or be driven (Ease mode). In Boost mode, the vehicle’s powertrain throws away efficiency to deliver maximum driving pleasure.
The iNext will be one of 12 new electric cars the BMW Group will launch by the end of 2025. The first will be the Mini Electric compact hatch scheduled for launch in 2019, followed by the iX3 small SUV in 2020, and an i4 sedan around 2021.