BMW revealed its Strategy Number One > Next plan in March, with the flagship symbol of the strategy being the iNEXT self-driving electric vehicle. There was no mention of a definite date for the release of the car, but it is expected that it will be launched near the start of the next decade.

The expected release date for the iNEXT vehicle was mentioned by Harald Krüger, the chairman of BMW, in his statement at the 96th annual general meeting of shareholders of the company, and it falls right in line with expectations.

According to Krüger, the self-driving iNEXT, which will have an intelligent and lightweight design, digital connectivity, and a redesigned interior will be launched in 2021.

The iNEXT will come after BMW’s upcoming release this year of the i3 with its battery capacity improved by 50 percent, and the 2018 launch of the i8 Roadster.

While the iNEXT is being groomed as a potential challenger to the self-driving electric vehicles that industry leader Tesla Motors is developing, the question is whether 2021 is already too late, as rivals Mercedes Benz and Audi are planning to release their own long-range electric cars years before that time.

The demand for the iNEXT is expected to be undercut by other cars that will be released ahead of it. The offerings by Mercedes Benz and Audi, expected by 2018, are being targeted to cover a range of 500 kilometers (311 miles) on a single charge. In addition, the recently revealed $35,000 Model 3 electric vehicle of Tesla Motors has proven to be very popular, and it is expected to roll off the manufacturing lines in 2017.

BMW is also in danger of losing its top spot in global sales for luxury cars this year for the first time in over a decade, as a rejuvenated Mercedes brand was able to outpace BMW’s growth and sell more units during the first quarter.