BMW is gearing up to unveil the next-generation 5 Series and its electric counterpart, the i5, later this month. But the most anticipated model in the lineup, the new M5, will likely keep us waiting for a bit longer.

The M5 is covered in a full-body camouflage wrap and cladding, making it hard to spot any significant changes to the exterior.

However, we can see that it will not adopt the controversial tall kidney grille that has been featured on other recent BMW models, such as the 4 Series and the M3/M4. Instead, it will have a more conventional and narrower grille that should please the fans.

The front fascia is also concealed by cladding, but we expect it to have an aggressive look with large air intakes and a sporty bumper. The rear end is also obscured by camouflage, but we can notice the quad tailpipes that hint at the car’s performance potential. The M5 will also likely have a rear spoiler, a diffuser, and unique wheels.

The interior of the new M5 has already been exposed by previous spy shots, revealing a dual-display setup on the dashboard that consists of a digital instrument cluster and a touchscreen infotainment system. The M5 will also benefit from BMW’s latest iDrive software, which could be the iDrive 9 that was introduced earlier this year.

The biggest change for the new M5 will be under the hood, where BMW will introduce a hybrid powertrain for the first time. According to rumors, the M5 will use the same system as the BMW XM, which combines a twin-turbocharged 4.4-liter V8 engine with a single electric motor. However, the M5 will likely have less power than the XM, which produces 644 horsepower and 590 pound-feet of torque in its base form and 738 hp and 738 lb-ft in its Label Red version.

The next-generation 5 Series and i5 will debut on May 24 and go on sale later this year. The new M5, however, will probably arrive later than that, possibly in 2023. We also hope to see an M5 Touring wagon variant, which would be a welcome addition to the US market. However, we have not seen any spy photos of that model yet.

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