BMW’s Redesigned 5 Series Goes Electric for 2024

Closer look at availability, price, specs & photos. With the addition of the all-electric i5 M60 xDrive and i5 eDrive40, along with the mild hybrid 530i, 530i xDrive, and 540i xDrive, BMW's next-gen 5 Series is on a whole new trajectory.

When it comes to executive sedans, few cars floss the flair, self-assurance, and performance quite like the 5 Series. Going strong since the early 1970s, BMW is levelling up its mid-size car for 2024, now entering its 8th-generation. 

Release Date: BMW is giving us an October 2023 availability date for the new 5 Series. The 6-cylinder, 3.0L BMW 540i xDrive with the 48-volt mild hybrid system goes into production in November 2023, hitting North American markets sometime Spring 2024. 

Full pricing, specs, and gallery for both EV and hybrid sedans at the end of this post. Below, we get into some of the key details for the new 5 Series.

A 590-Horsepower, All-Electric 5 Series

All-Electric: i5 M60 xDrive and i5 eDrive40

2024 BMW 5 Series i5 eDrive40 and i5 M60 xDrive
2024 BMW 5 Series i5 eDrive40 (top) and i5 M60 xDrive (bottom). Photo: BMW

For the first time, this German 4-door goes electric with the new BMW i5 — specifically, the potent i5 M60 xDrive putting down nearly 600 horsepower, sprinting to 60 mph in  3.7-seconds, all while offering up to 256 miles / 412 kms of electric range. 

With the M Sport Package, this machine rolls on 19-inch M light alloy wheels, and finds touches of high-gloss black at the side skirts and exterior mirror caps. Add bigger air intakes, horizontal slat front grill, and a blacked-out front apron to the 5 Series M mix. 

2024 BMW 5 Series i5 M60 xDrive in red rear view
2024 BMW 5 Series i5 M60 xDrive. Photo: BMW

If the M is overkill, there’s the i5 eDrive40 making a respectable 335 horsepower with 295 miles of electric range. The i5 gains some standard features optional on the 530i and 530i, including interior ambient lighting — part of the new BMW Interaction Bar — lighting up the instrument panel and door area.

Some key standards on both the i5 M60 xDrive and i5 eDrive40 is the BMW Curved Display with latest operating system, a tilt-and-slide moonroof, sport seats, and the Active Driving Assistant package, Apple CarPlay and Android Auto compatibility, wireless device charging, and the Harman Kardon audio system. 

2024 BMW 5 Series interior
2024 5 Series. Photo: BMW

Worth noting the US will get both versions of the 2024 electric i5 starting at $84,100 US, while Canada only gets the high-performance M version starting at $95,000 CDN. 

New Hybrid BMW Sedans

Mild Hybrid: 530i, 530i xDrive, and 540i xDrive

Powering the 2024 BMW 530i and 530i xDrive is an improved, next-gen twin-turbo 2.0L inline 4-cylinder engine, improving specs by 7 hp and 38 lb-ft., now putting down 255 hp and 295 lb-ft of torque. This all works in conjunction with a new 48V mild hybrid system paired to an 8-speed transmission with shift paddles.

With a hefty 40 horsepower gain over the outgoing model, the 2024 BMW 540i xDrive is the granddaddy of the three hybrid flavours, generating a maximum output of 375 horsepower and 398 lb.-­ft. of torque with the additional power of the 48-volt mild hybrid system. Expect this mid-size 4-door to do 0-60 mph in a decent 4.5 seconds.

2024 5 Series BMW interior rear seats
2024 5 Series. Photo: BMW
2024 5 Series BMW interior front cabin and large screen
2024 5 Series. Photo: BMW

Like its electric siblings, some standards include Apple CarPlay and Android Auto compatibility, wireless charging, parking assistant, sport seats, and 19-inch Triplex-spoke light alloy wheels wrapped in all season tires (the i5 gets 19-inch Aerospoke bi-color grey light alloy wheels on mixed non-runflat tires; the i5 M60 xDrive gets 19-inch M Aerodynamic light alloy wheels with mixed performance non-runflat tires).

Some new things to the redesigned 5 Series 2024 models

Hands-free driving now included

New for 2024, and similar to Cadillac’s SuperCruise and Lincoln’s BlueCruise we recently reviewed equipped on the 2024 Corsair Grand Touring SUV , BMW adds its own hands-free driving system with Highway Assistant. It’s part of the Driving Assistance Professional safety package which is an option on the new 5 Series, and will allow drivers to go hands-free at speeds of up to 85 mph or 130 km/h, courtesy of an interior camera monitoring the drivers’ attention. 

2024 BMW 5 Series i5 eDrive40 (right) and i5 M60 xDrive (left)
2024 BMW 5 Series i5 eDrive40 (right) and i5 M60 xDrive (left). Photo: BMW

Improved Active Lane Change with Eye Activation

Also new to the Driving Assistance Professional is an improved version of Active Lane Change. It’s a world-first feature, according to BMW, and is controlled by eye activation from the i5’s cockpit. 

Here’s what the full Driving Assistance Professional Package includes:

  • Highway Assistant with attentive hands-free driving up to 85 mph
  • Lane Keeping Assistant with Side Collision Protection
  • Active Lane Change with eye activation
  • Evasion Assistant
  • Cross Traffic Warning (front)

Gamers rejoice with AirConsole in-car gaming — better games to come?

BMW 5 Series with the AirConsole platform
8th-generation 5 Series with the gaming AirConsole platform. Photo: BMW

You read that read: in-car gaming inside the new 5 Series. So while your i5 is charging up, sit back, relax, and play some vids. 

Fortunately, BMW plans to expand the game portfolio. That’s a good thing because the current 20 games are pretty subpar, including Go Kart Go, Golazo, Music Guess and Overcooked. But hey, it’s better than no gaming, right?

2024 BMW 5 Series Price

Below is US and Canadian pricing for these available BMW sedan models. Note, US pricing below excludes the $995 destination and handling charge; Canada only receives the M version of the i5 EV. 


US Pricing (USD)Canadian Pricing (CDN)
530i$57,900
530i xDrive $60,200$70,500
i5 eDrive40 $66,800
i5 M60 xDrive$84,100$95,000
540i xDrive$64,900

2024 BMW 5 Series Specs

Electric 5 Series Specs:


i5 eDrive40i5 M60 xDrive
Power335-hp @ 8,000590-hp @ 8,000
Torque295 lb.-ft. @ 0-5,000586 lb.-ft. @ 0-5000
0-60 mph5.7 seconds3.7 seconds
Top speed (max.)120 mph143 mph
DrivetrainElectric RWDElectric AWD
TransmissionAutomatic transmission, single-stage with fixed ratioAutomatic transmission, single-stage with fixed ratio
BatteryLithium-ion, 400V, 211 Ah capacityLithium-ion, 400V, 211 Ah capacity
Charging time, 10-80% @ 205 kW30 min (DC, fast charging)30 min (DC, fast charging)
Wheelbase117.9 inches117.9 inches
Length199.2 inches199.2 inches
Width74.8 inches74.8 inches
Height59.6 inches59.3 inches

Hybrid 5 Series specs:


530i530i xDrive
Power255-hp @ 4,700-6,500255-hp @ 4,700-6,500
Torque295 lb.-ft. @ 1,600-4,500295 lb.-ft. @ 1,600-4,500
0-60 mph5.9 seconds5.8 seconds
Top speed (max.)155 mph155 mph
Engine2.0L inline 4-cylinder2.0L inline 4-cylinder
Transmission8-speed Steptronic8-speed Steptronic
Wheels (standard)19 x 8.5J inches19 x 8.5J inches
Tires (standard)245/45 R19 all-season non-runflat245/45 R19 all-season non-runflat
Front brakesFour-piston fixed-caliper, discs, ventilatedFour-piston fixed-caliper, discs, ventilated
Rear brakesSingle-piston floating-caliper, discs, ventilatedSingle-piston floating-caliper, discs, ventilated

New 5 Series EV and Hybrid Photos

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Author:
Amee Reehal
Amee Reehalhttps://www.ameereehal.com/
Shooting cars and bikes professionally since film was a thing, for over 20 years, Amee has collaborated with the major automakers and agencies, and his work has been published in various global outlets including MotorTrend, GlobeDrive, SuperStreet, Chicago Tribune, PerformanceBMW, and others. He’s an automotive writer and founder/managing editor of TractionLife.com, focusing on digital marketing & SEO for the past ten years (backed by a marketing degree, go figure). Find him travelling, spending time with his kids and family. Or golfing, poorly.