BMW is committing to keeping their V12 in production until at least 2023 according to BMW Powertrain Executive Michael Bayer, and he thinks it will be possible to make the engine compliant with the next round of Euro emissions regulations. That means it will stick around for the rest of the current generation of the 7-series sedan. Unfortunately, there will still not be a V12 offered in the 8-series coupe.
We've already reported that Mercedes plans to cut its V12 out of the S-Class sedan after the 2020 model year. By doing so, it will make BMW the standard bearer for the final V12s in regular production. Audi already canceled its W12 engine starting with the 2017 model year though it is still in use in the Bentley Flying Spur.
One possible reason for BMW keeping the V12 around is its use in Rolls Royce vehicles until they make the big leap to full electrification.