The 390kW motor, meanwhile, outputs 530 horsepower in traditional gasoline terms. BMW claims it can accelerate from zero to 60 miles per hour in about four seconds and features a top speed of 124 miles, making it the electric equivalent of one of the company's V8 combustion engines. Like the iX3 and iNext, the two other EVs BMW plans to bring to market in 2021, the i4 will take advantage of the company's upcoming fifth-generation electric powertrain.

On paper, the i4 compares favorably against the competition. The most comparable Tesla Model 3 variant, for instance, features a maximum range of 322 miles and a top speed of 145 miles per hour. The same trim also features Tesla's highest capacity Model 3 battery. It weighs approximately 1,058 pounds and tops out at 75kWh.

The one thing to keep in mind with both comparisons is that BMW has yet to release the i4, and so the final model may not live up to the company's initial claims. Moreover, it's worth noting that, in real-world use, the i4's battery probably won't deliver 373 miles of range in most circumstances -- just like the Model 3's battery doesn't always live up to the EPA's 322-mile estimate.

Including the i4, BMW plans to debut 25 all-electric and plug-in hybrids before the end of 2023. In a recent interview with Auto Express, the company's EV division chief Robert Irlinger said the company is also working on a 1 Series-inspired electric hatchback. Notably, BMW says it plans to launch the i4 globally, so there's a good chance we'll see it here stateside.