The BMW 5-Series has been redesigned for the 2024 model year, with the new sedan due to reach showrooms late this year with gas and electric powertrains.

The electric powertrains will feature in a model called the i5, and our latest spy shots show a prototype for an i5 wagon that's likely to be called an i5 Touring. A gas-powered 5-Series Touring is also being developed.

The i5 sedan has been revealed in single-motor i5 eDrive40 and dual-motor i5 M60 xDrive grades delivering 335 hp and 590 hp, respectively. The i5 M60 xDrive will sprint from 0-60 mph in just 3.7 seconds, according to BMW.

In each case the battery is an 84.3-kwh unit, which BMW estimates will deliver an EPA-rated range of 295 miles in the i5 eDrive40 and 256 miles in the i5 M60 xDrive. Charging at up to 205 kw is possible using a DC fast charger, in which case the battery can be charged to 80% in around 30 minutes, according to BMW.

2024 BMW i5

2024 BMW i5

Expect the same powertrain configurations to feature in the i5 Touring.

BMW has confirmed the i5 Touring will be available in Europe starting next spring. Don't look for it or any other 5-Series wagon to reach the U.S., as buyers here in need of cargo space mostly prefer SUVs.

The latest 5-Series is also set to spawn a high-performance M5 next year, which will almost certainly reach the U.S. It will feature a V-8 engine paired with a plug-in hybrid system. An M5 Touring wagon is also being developed, though like the other wagon models will likely be off-limits for the U.S.

There are also rumors an electric M5 is being developed. Such a vehicle could use a four-motor powertrain delivering close to 1,000 hp, a setup BMW M engineers are testing. Stay tuned.