The G29 Z4 was introduced at the Pebble Beach Concours d’Elegance on August 23, 2018.

Designed by Australian born Calvin Luk, the car is based on the Z4 Concept unveiled a year earlier, and was developed alongside the fifth generation of the Toyota Supra due to BMW's partnership with Toyota. The design was inspired by the Z8. The Z4 is based on the Cluster Architecture platform which underpins most of the BMW cars and has a 50:50 weight distribution with weight savings of up to 50 kg (110 lb) as compared to its predecessor. The soft-top convertible roof returned on the Z4 (G29) instead of a retractable hardtop of its predecessor. The roof can be raised or lowered in 10 seconds at speeds of up to 50 km/h (31 mph). The boot is 50% larger than that of its predecessor and has a capacity of 281 litres (9.9 cu ft). It uses a multi-link rear suspension.