MUNICH -- BMW Group plans to unveil 40 new and revamped vehicles over the next two years, including the new X2 compact SUV and full-sized X7 crossover.
BMW plans biggest model launch to date
"We are launching the biggest model offensive ever," CEO Harald Krueger said at BMW's annual press conference.
BMW has been under pressure after losing its global luxury-vehicle crown to Mercedes-Benz last year.
The revamped 7-series sedan failed to challenge the Mercedes S class, while the redesign of the 5 series was cautious.
After spending $5.6 billion, or 5.5 percent of its revenue, on research and development last year, BMW said it plans to invest at an even higher rate in the coming two years.
Beyond the 40 new models, BMW plans to boost its offering of lucrative, luxury vehicles to complement the top-of-the-line 7-series sedan, Krueger said.
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