BMW will unveil a new vehicle later this year that will be built at its plant in South Carolina, Chairman Oliver Zipse told CNBC.
The Spartanburg plant currently produces the BMW X3, X4, X5, X6 and X7 as well as performance models of most of the vehicles.
“At the end of the year, we will make an announcement to build another high-end car from this manufacturing site,” Zipse told CNBC’s Phil LeBeau on “Squawk Box.” “It is not a successor model, it’s a brand-new model, high-end for the American market but also for the world market.”
BMW currently exports about 70% of the vehicles it produces at the U.S. plant, Zipse said. He declined to disclose other details of the new vehicle.