BMW is reportedly hard at work on what's being called Project i20.

It's believed that Project i20 is the codename for BMW's next all-new electric car, which will likely be called the i5 or i6.

Even though work is underway, reports suggest that this car won't be ready for launch until late 2021.

As Automobile states:

"BMW is preparing a future i5 or i6 electric car which will arrive in late 2021. In addition to a pure electric drivetrain, the car will also feature the most advanced autonomous capability yet from BMW. Compared to the i3 and i8 models, the Project i20 car is based on evolution of the hybrid aluminum/steel structure used in current BMWs, paired with carbon fiber parts."

BMW will reportedly move away from full carbon fiber due to costs, which Automobile says cuts into the automaker's margins.

Automobile adds:

"Project i20 will boast a choice of motors ranging from 136 hp to 247 hp, four-wheel drive, a low center of gravity, and an extremely tight turning circle. Design wise, the car is said to be a bigger and better looking BMW i3."

Unfortunately, we'll have to wait 5 long years before we get to sample what BMW is developing under the Project i20 umbrella.

Source: Automobile