BMW is on track to double its electric and hybrid vehicle sales by 2021, the company said Tuesday as it unveiled its newest electric car.

The German automaker announced that it will meet its target of marketing 25 electrified vehicle models by 2023 — two years earlier than expected. More than half of those models will be fully electric.

Sales of BMW's electric models are expected to increase by 30% every year between now and 2025, the carmaker also added.

BMW also revealed the Vision M Next, an electrified concept car, which was complete with a prototype of "intelligent technology to transform (owners) into the ultimate driver."

Unveiling the sportscar at its #NEXTGen show in Munich, BMW said the car gave a glimpse of how driving may look in the future — offering people the choice between being driven by technology or doing the driving themselves.