BMW is working on a small electric sedan that will take the fight directly to Tesla's Model 3 when it arrives in 2021, and with some class-leading figures to boot.

To be called the i4, the new model was confirmed on Monday to be coming with an 80-kilowatt-hour battery and range of 373 miles, likely in a flagship grade. The range figure is based on the more lenient WLTP cycle used overseas but should still come in higher than 300 miles when measured by the EPA.

BMW fifth-generation EV technology

BMW fifth-generation EV technology

The battery will be BMW's fifth-generation design, which is more compact on a per kwh basis than BMW's earlier batteries, though it's still a hefty thing at about 1,212 pounds in the i4. An electric drive system likely consisting of an electric motor at each axle will deliver a peak 523 horsepower, or enough for 0-62 mph acceleration in under four seconds. The top speed will be governed at 120 mph.

The i4 will be able to accept a 150-kilowatt fast charge that BMW said can charge the car from 0-80 percent in 35 minutes.

BMW i Vision Dynamics concept, 2017 Frankfurt Motor Show

BMW i Vision Dynamics concept, 2017 Frankfurt Motor Show

BMW previewed the i4 with the i Vision Dynamics concept unveiled at the 2017 Frankfurt International Motor Show. The production version has been spotted testing in prototype form and, judging by the styling, looks to be a member of the next 4-Series family, as opposed to a standalone model like the i3 and i8. We currently expect the i4 to serve as a replacement for the 4-Series Gran Coupe.

And unlike the i3 and i8, which ride on bespoke platforms, the i4 will be based on BMW Group's CLAR modular platform that debuted in the current 7-Series. The platform is flexible enough to support internal-combustion, hybrid and battery-electric powertrains.

BMW fifth-generation EV technology

BMW fifth-generation EV technology

Other BMW EVs we know are coming include the iX3 due in 2020 and the iNext due in 2021. The two are SUVs related to the current X3 and X5, respectively.

The cars are part of an aggressive electrification program at BMW Group that will see 25 electrified cars launched by the end of 2023, more than half of which will be battery-electric models.