German luxury car maker BMW AG recently launched its crossover compact SUV BMW X1 in east China, with three versions priced between 358,000 yuan ($52,600) and 552,500 yuan in China, Shanghai Daily reported on Friday.

BMW said the revamped model has a length of 4.45 meters with a long wheel-base of 2.74 meters. Equipped with a six-cylinder gasoline engine and six-speed automatic transmission, the models only need 6.8 seconds to go from zero to 100 kilometers per hour.

The vehicles aims to meet rising market demand from young Chinese who want a more dynamic driving experience and stylish designs, the company said. Many buyers are interested in the BMW X1 and those who have ordered it (with a deposit of 50,000 yuan) will wait until October to pick the car.

BMW and its Chinese partner Brilliance Auto have confirmed that the new factory of their venture BMW Brilliance produce the BMW X1 SUV, among other models which will include the BMW 1 Series and stretched BMW 3 series.

In the Chinese market, the BMW X1 will rival the Audi Q5 and VW Tiguan which have all entered China's premium compact SUV segment in recent months via imports but all will be locally built this year.

BMW sold 75,615 BMW and Mini cars in mainland China in the first half of the year. China is overtaking the UK as BMW's third largest market (after Germany and the U.S.). BMW sold 90,536 cars in the country in 2009.