[22]In March 2023 (For 2024), the X5 LCI entered production, adding a revised front grille and bumper, completely redesigned headlights and taillights, and new wheel designs.

[24] Both models are an increase from the 567 hp (575 PS; 423 kW) produced by the previous F15 generation X5 M. In addition to the horsepower increase, major differences between the standard model and the Competition are an upgraded exhaust system, larger rear wheels and tires, Track mode, and improved standard leather upholstery.

[25] Starting in 2024 with the LCI facelift, the base X5 M was discontinued while the X5 M Competition was updated to the 4.4L BMW S68 twin-turbo V8 MHEV, adding efficiency via an integrated 48-volt mild hybrid system.

The xDrive 45e features a 24 kWh lithium-ion battery combined with a 3.0 L B58 turbo I6 and an electric motor that produces 113 hp (115 PS; 84 kW).

It is marketed as the X5 xDrive30Li and xDrive40Li, and has been produced by the BMW Brilliance Automotive joint venture at the upgraded Shenyang, Dadong plant since April 2022.

[28] The iX5 is a hydrogen powered fuel cell electric vehicle (FCEV) version of the X5 that was launched in February 2023 after being unveiled as a concept at the IAA show in 2019.

[29] The iX5 has a maximum output of 295 kW (401 hp) and accelerates from 0–100 km/h (0–62 mph) in less than 6 seconds with a range of more than 504 kilometres (313 miles) from its two high-pressure fuel tanks.

[29]Standard equipment includes LED headlights, electronically controlled dampers, electric and heated sports seats, and two 12.3-inch displays for the instrument panel and iDrive system.

[31] G05 X5 models are also available with laser headlights, heated and cooled cupholders, a panoramic sunroof with LED patterns, and a Microsoft Office 365 and Skype for Business subscription with over-the-air updates.

[33] xLine and M Sport packages are also offered alongside the standard trim and feature different body styling and exclusive exterior paint colours and upholstery choices.