A lot has happened in BMW’s camp since we last saw the M5 testing at the Nurburgring. The automaker revealed the next-generation 2024 5 Series late last month, providing a preview of what the redesigned M5 could look like, which is currently in development. A new batch of spy shots shows the high-performance saloon still testing at the Nurburgring race track. However, the camouflage isn’t as deceptive now.

At the front, it’s easier to see the outline of the M5’s grille compared with the electric 5 Series. The two differ in the bumper, with the M5 wearing a much more aggressive lower face designed to increase cooling to the plug-in hybrid powertrain and brakes. Camouflage continues to conceal most of the headlights, which wrap around the front wings/fenders.

Gallery: Next-Gen BMW M5 Spy Photos

The M5 in the photos still sports a full-body camouflage wrap, concealing the finer styling details, especially at the rear. The next-gen 5 Series has wide, narrow taillights visible in the spy shots. BMW might be able to hide the bumper design, but it can’t conceal the quad exhaust pipes sticking out from the rear diffuser, which denotes its M status.

Exact details about the M5’s powertrain remain elusive, but it‘ll allegedly arrive packing the same powertrain as the one in the BMW XM. However, it might not have the same tuning. The twin-turbocharged 4.4-litre V8 engine and single electric motor produce a total of 644 bhp and 590 pound-feet of torque in the SUV. The powertrain makes 738 bhp and 738 lb-ft of torque in the XM Label Red.

Either way, the M5 will have to pack a serious punch as the electric i5 M60 will pack a dual-motor setup making 590 bhp and 549 lb-ft of torque. The BEV can reach 60 miles per hour in 3.7 seconds but has a top speed limited to 143 mph. An M5 with over 600 bhp would easily put it at the top of the next-generation 5 Series lineup.

With the 2024 5 Series revealed, BMW can now focus on finalising the M5, which could break cover later this year or early next. BMW is also developing an M5 Touring estate, but our spy photographers haven’t spotted it yet.