BMW's M550i xDrive is about to receive the latest evolution of the automaker's 4.4-liter twin-turbocharged V-8 which will see the sport sedan's performance enhanced.

The automaker on Friday said the new engine will be installed in the M550i from July, meaning we'll likely see it arrive for the 2020 model year.

While the displacement hasn't changed, the new engine boasts a redesigned crankcase plus larger turbochargers positioned between the cylinder banks. The design typically results in better response and a more compact engine design, due to less plumbing for the turbos.

Specifications for the United States haven't been announced but in other markets the new engine will be rated at 530 horsepower and 553 pound-feet of torque. This compares to the current M550i's rating of 456 hp and 480 lb-ft.

2019 BMW 5-Series (M550i xDrive)

2019 BMW 5-Series (M550i xDrive)

The current M550i was launched together with the redesigned 5-Series for 2017. It features an 8-speed automatic and all-wheel drive and will hit 60 mph in about 4.0 seconds. We suspect the car will be even quicker with its new engine.

The 530e iPerformance plug-in hybrid will also benefit from updates due to be introduced in July. The highlight is a new battery capable of more electric range, though BMW is withholding numbers until closer to the market launch. The current model has a 9.2 kwh lithium-ion battery good for an EPA-rated electric range of 16 miles.

All 5-Series models will be available with new design packs from the BMW Individual personalization department. These add unique touches to the interior and exterior of the vehicles such as special paint finishes, unique wheel patterns, comfort seats, Merino leather, and several other extras.

And outside the U.S., some 5-Series models will be available with laser light headlights featuring BMW Selective Beam. This new feature allows you to drive with the high beams permanently switched on. A camera scans the road for other users and tells the headlights to block part of the light beam so no one gets dazzled.