A heavily camouflaged BMW X5 prototype has been spotted testing in Germany, giving us a glimpse of what to expect from the next-generation SUV. Internally known as the “G65,” this fifth-generation X5 will continue to ride on BMW’s CLAR platform but is set to adopt electrified powertrains and design elements from the upcoming Neue Klasse models. The prototype that caught the most attention featured quad exhaust tips, suggesting it’s an M Performance model. While its exact configuration remains unconfirmed, insiders suggest that this is a plug-in hybrid variant called the X5 M60e.

The PHEV recipe is already known from other BMWs. So the X5 M60e is expected to combine an inline-six engine with an electric motor, similar to the powertrain used in the BMW M760e sedan. BMW has yet to confirm a V8-powered X5, but knowing that the S68 engine is EURO7 rated, it’s possible that markets like the U.S. will get a taste of the 4.4 liter engine.

Design Influences from Neue Klasse

Despite the camouflage obscuring finer details, the prototype’s front end hints at significant design updates. Dealers previewing the model in the U.S. last year have highlighted its X-shaped headlights, which they described as a standout feature of the new design. While it’s unclear if the headlights themselves form an X or if it’s an effect created by the internal graphics, the new lighting design aims to add a futuristic and aggressive character to the X5’s appearance. The kidney grille follows the Neue Klasse recipe with chrome replaced by lights to form an elongated and digital kidney grille.

The Neue Klasse-inspired updates are also expected to include a sharper overall profile and a more dynamic stance. The rear end appears to showcase a sportier design, complemented by a coupe-like roofline that enhances the SUV’s sleek and dynamic aesthetic. The interior of the BMW X5 G65 will also be fully revamped. We expect to see the new iDrive X infotainment system, along with the new 17.9 inches central display, the Panoramic iDrive and a new Head-Up Display.

A Diverse Lineup for All Markets

BMW is preparing the most varied X5 lineup to date, offering a range of powertrains to suit global market demands. In addition to the M Performance models, the lineup will include:

  • iX5: A fully electric variant sticking with the CLAR platform. An iX5 M70 model is rumored to deliver high performance for EV enthusiasts.
  • Hydrogen-Powered X5: A production model using hydrogen fuel cell technology is expected to debut in 2028.
  • X5 M G95: The next-generation high-performance X5 M, slated for a 2027 launch, though its availability in Europe may be limited due to emissions regulations.

The 2026 BMW X5 G65 is set to begin production in August 2026, with an official unveiling anticipated earlier in the year. The initial launch lineup is expected to include the M60e, M60, and iX5 variants, while the hydrogen model and X5 M will follow in subsequent years.