Milan Nedeljković, Chairman of the Board of Management of BMW AG, delivers remarks during the Home of X event at BMW Group Plant Spartanburg on Tuesday, June 30, 2026 in Spartanburg, S.C. (Jason Walle/AP Content Services for BMW of North America)

From left, Dr. Robert Englehorn, President and CEO of BMW Manufacturing, Senator Lindsey Graham, Governor Henry McMaster and Milan Nedeljković, CEO of BMW Group, gather during the Home of X event at BMW Group Plant Spartanburg, on Tuesday, June 30, 2026 in Spartanburg, S.C. (Jason Walle/AP Content Services for BMW of North America)

The all-new BMW X5 Sports Utility Vehicle is showcased at BMW Group Plant, on Sunday, June 28, 2026 in Spartanburg, S.C. ahead of the Home of X event. (Jason Walle/AP Content Services for BMW of North America)

The all-new BMW X5 Sports Utility Vehicle is showcased at BMW Group Plant, on Sunday, June 28, 2026 in Spartanburg, S.C. ahead of the Home of X event. (Jason Walle/AP Content Services for BMW of North America)

The all-new BMW X5 Sports Utility Vehicle is showcased at BMW Group Plant, on Sunday, June 28, 2026 in Spartanburg, S.C. ahead of the Home of X event. (Jason Walle/AP Content Services for BMW of North America)

The all-new BMW X5 Sports Utility Vehicle made its world premiere at BMW Group Plant Spartanburg, on Tuesday, June 30, 2026 in Spartanburg, S.C. The new BMW X5 will be the first vehicle to be offered with five different drivetrain options when it comes to market later this year. (Jason Walle/AP Content Services for BMW of North America)

The all-new BMW X5 Sports Utility Vehicle is showcased at BMW Group Plant, on Sunday, June 28, 2026 in Spartanburg, S.C. ahead of the Home of X event. (Jason Walle/AP Content Services for BMW of North America)

The all-new BMW X5 Sports Utility Vehicle made its world premiere at BMW Group Plant Spartanburg, on Tuesday, June 30, 2026 in Spartanburg, S.C. The interior of the all-new BMW X5 is highlighted by a completely new user interface featuring a first-of-its kind Panoramic iDrive Head Up Display. (Jason Walle/AP Content Services for BMW of North America)

The all-new BMW X5 Sports Utility Vehicle is showcased at BMW Group Plant, on Sunday, June 28, 2026 in Spartanburg, S.C. ahead of the Home of X event. (Jason Walle/AP Content Services for BMW of North America)

The all-new BMW X5 Sports Utility Vehicle is showcased at BMW Group Plant, on Sunday, June 28, 2026 in Spartanburg, S.C. ahead of the Home of X event. (Jason Walle/AP Content Services for BMW of North America)

The all-new BMW X5 Sports Utility Vehicle is showcased at BMW Group Plant, on Sunday, June 28, 2026 in Spartanburg, S.C. ahead of the Home of X event. (Jason Walle/AP Content Services for BMW of North America)

The all-new BMW X5 Sports Utility Vehicle is showcased at BMW Group Plant, on Sunday, June 28, 2026 in Spartanburg, S.C. ahead of the Home of X event. (Jason Walle/AP Content Services for BMW of North America)

BMW Group Completes $1.7 Billion U.S. Investment and Premieres All New BMW X5 at "Home of X" Event in Spartanburg, SC.

BMW Group Completes $1.7 Billion U.S. Investment and Premieres All New BMW X5 at "Home of X" Event in Spartanburg, SC.

From left, Sebastian Mackensen, President and CEO of BMW of North America, Dr. Robert Englehorn, President and CEO of BMW Manufacturing, and Ole Jensen, President and CEO of BMW Group Financial Services U.S. and Head of Region Americas, stand in front of the newly unveiled "X" sculpture at BMW Group Plant Spartanburg, on Tuesday, June 30, in Spartanburg, S.C.(Jason Walle/AP Content Services for BMW of North America)

Guests gather throughout the venue during the Home of X evening reception at the Grand Bohemian Lodge, on Tuesday, June 30, 2026 in Greenville, S.C. (Jason Walle/AP Content Services for BMW of North America)

Two new BMW X5 vehicles are showcased outside the Grand Bohemian Lodge during the Home of X evening reception on Tuesday, June 30, 2026, in Greenville, S.C. (Jason Walle/AP Content Services for BMW of North America)

Guests gather throughout the venue during the Home of X evening reception at the Grand Bohemian Lodge, on Tuesday, June 30, 2026 in Greenville, S.C. (Jason Walle/AP Content Services for BMW of North America)

Samantha Tan, race car driver and team owner of Samantha Tan Racing, stands by the new BMW X5 vehicles at the Home of X evening reception at the Grand Bohemian Lodge, on Tuesday, June 30, 2026 in Greenville, S.C. (Jason Walle/AP Content Services for BMW of North America)

Guests stand by new BMW X5 vehicles during the Home of X evening reception at the Grand Bohemian Lodge, on Tuesday, June 30, 2026 in Greenville, S.C. (Jason Walle/AP Content Services for BMW of North America)

Cristiano Petroni, celebrity chef and restaurateur, sits in the new BMW X5 during the evening reception following the Home of X event at the Grand Bohemian Lodge, on Tuesday, June 30, 2026 in Greenville, S.C. (Jason Walle/AP Content Services for BMW of North America)