BMW has been spotted testing prototypes for a new M5 Touring, only the third M5 wagon in the history of the 5-Series. The last was the E60-generation M5 Touring of the ’00s.

The latest high-performance wagon is set to make its debut shortly, together with the debut of a new M5 sedan, and both body styles were confirmed by BMW in April for a U.S. arrival. They should arrive as 2025 models.

While the prototypes may look similar to earlier test vehicles for the regular 5-Series Touring, signature M cues such as the pumped fenders, quad-exhaust tips, and large wheel and brake package confirm them as being for the M5 Touring.

A yellow warning sticker also confirms the prototypes pack an electrified powertrain. The setup likely consists of a twin-turbocharged 4.4-liter V-8 with a single electric motor for a combined output of more than 700 hp. The same setup features in the 2023 XM SUV, and delivers 738 hp in the range-topping XM Label Red grade.

Performance fans with a penchant for electric power also have an option with the new 5-Series. The electric i5 variant can be ordered in an i5 M60 xDrive grade packing a dual-motor, all-wheel-drive setup good for 590 hp. The i5 M60 xDrive also has a Touring wagon, though this particular option isn’t expected to reach the U.S.

Dedicated M cars with electric powertrains are in the pipeline, though timing is uncertain. BMW M has been spotted testing a four-motor electric powertrain, and there have been rumors the new M5 at some point in its life cycle will offer the option of an electric powertrain.

When it arrives, there won’t be much in the way of direct competition for the M5 Touring. Mercedes-Benz AMG no longer offers an E 63 Wagon in the U.S. and Audi’s current RS 6 Avant is also on its way out. A successor to the RS 6 Avant, likely badged as the RS 7 Avant, is planned but not yet confirmed for U.S. sale. A smaller RS 5 Avant is also in the works but not yet confirmed to reach these shores.

BMW also offers an M3 Touring. It’s been on sale overseas since 2022, but has been ruled out for this market.