Germany's BMW will build its X3 model in South Africa from 2024, investing 4.2 billion rand ($225.09 million) to electrify its plant in Rosslyn, the company said in a statement on Thursday.

"From 2024, we will produce the BMW X3 in South Africa as a plug-in hybrid and export it all over the world," Milan Nedeljkovic, Chairman of the Board of Management of BMW South Africa, said in the statement.

"With an investment of 4.2 billion rand (over 200 million euros), the Rosslyn plant will be enabled for electromobility," he added.

The Rosslyn plant currently produces the combustion engine 3 series, with a capacity of up to 75,000 units per year, according to its website.

Export destinations for vehicles produced at the plant include the United States, Taiwan, Japan, Singapore, New Zealand, Hong Kong, Australia, Sub-Saharan Africa and Canada.

($1 = 0.9135 euros)

($1 = 18.6591 rand)

(Reporting by Ozan Ergenay; Editing by Madeline Chambers)