BMW have started taking pre-orders for their brand new model, the BMW i7 xDrive60, which marks their entry into the highly competitive all-electric luxury sedan segment. The car can be all yours at a starting price of $119,300.

Under the hood, the car boasts of 2 electric motors generating a combined 536 horse power and 549 lb-ft of torque, enough to cruise from 0-60 in a blazing fast 4.5 seconds. Maximum speed is capped at 149 mph (Electric cars can generate more speed than their maximum limit, which is put in place to ensure a minimum range on a full charge).

The i7 xDrive60 features fifth generation eDrive technology with integrated drive units at the front and rear axles.The fifth-gen technology allows the engine to achieve high power levels, while avoiding the use of rare earth metals, allowing a more environmentally sustainable process of manufacturing.

The EV, which will be in direct competition with Mercedes EQS and the Tesla Model S in its segment, features a 101.7 KWh battery, with a claimed consumption rate of 18.9-19.7 KWh per 100 km. BMW have also managed to achieve competitive charging speeds, with 10 minutes of a DC fast charge ensuring an 80 Km range.

In classic BMW fashion, the car sports the iconic Kidney shaped grilles, and their signature collaboration with Academy award winning composer Hans Zimmer. Zimmer creates the sounds that the car produces to give a cinematic feel to your drive in a BMW EV.

While that about covers the fundamentals, anyone shilling out $120k for this EV gets a well deserved bunch of luxury features. The sedan, while sticking to the company’s roots and staying close to the signature BMW look, has crystal linings along the grille, dashboard, Center console and the gear shift knob. A curved display panel extends halfway across the dashboard, behind the steering wheel, providing the driver with necessary information. The car also features a panoramic sky view roof. But the main luxury attraction is BMW’s 31.1 inch 8K theater screen, which folds down from the roof for the rear passengers, equipped with inbuilt Amazon Fire TV software.

BMW plans to continue pushing it’s mark in the EV market, with the goal of their electric entries accounting for 50% of the company’s total sales.