In early June, BMW M workshop manager Hans Rahn revealed the next M5 will adopt a plug-in hybrid powertrain based on the S68 engine. This twin-turbo 4.4-litre V8 is already available in the facelifted X7 and the new 7 Series, with the production-ready XM to follow before the year’s end. As a reminder the super saloon will be a PHEV, a prototype has been spotted up close with "Electrified Vehicle" stickers on its front doors and rear bumper.

Codenamed G90, the revamped AMG E63 Saloon competitor has been spotted (in front of a Mazda MX-5 NC) with the final headlights while still carrying around the provisional rear lights. A subtle boot lid spoiler is noticeable, as is a not-so-subtle quad exhaust with large tips in the usual configuration rather than the stacked layout of the forthcoming XM.

2024 BMW M5 spied with less camouflage

You can easily tell it's the full-fat M version and not a lesser 5er by the bulging wings/fenders and massive brakes both front and rear. We're expecting the production model to ride slightly lower to the ground as this test vehicle seemed to have a generous ground clearance provided by its work-in-progress suspension. Although the front is fully disguised, it's easy to notice the M5 won't get the massive grille of the M3 since the kidneys are separate from the lower air intake.

As with the 2023 XM, the new M5 will have the charging port on the left-side front wing/fender while the fuel cap will remain on the right-side rear quarter panel. Prototypes are giving the impression of a sharper exterior design and in one of the adjacent spy shots, we can take a glimpse of the overhauled interior. It hosts side-by-side screens in a single glass housing part of the iDrive 8 with a 12.3-inch digital driver’s display and a 14.9-inch touchscreen for the infotainment.

In regards to the drivetrain, the M5 should offer somewhere in the region of 650 bhp to match the XM debuting soon. However, the plug-in hybrid SUV will get a range-topping derivative in 2023 with up to 750 bhp to match last year's Concept XM. It's too soon to say whether a potential M5 Competition, CS, or another spicy flavour will match that.

If reports are to be believed, the next M5 is scheduled to enter production in July 2024. Plot twist – an M5 Touring (G99) will hit the assembly line in November of the same year and come to the United States. However, the regular 5 Series Touring (G61) is apparently not earmarked for the US while the fully electric i5 estate isn't coming either.

Meanwhile, the standard 5 Series Saloon (G60) will break cover early next year, with a long-wheelbase model (G68) for China to follow.