The next generation of the BMW M5 is scheduled to go on sale in 2024 packing the same hybrid system as the company’s XM SUV, BMW M CEO Franciscus van Meel said in an interview to CarExpert. He emphasized that the Bavarian company had never designed its powertrains only to abandon them after releasing one model, and the XM was no exception. The new M5 will run on hybrid power and utilize the same bits under the hood as the controversial SUV.

As you may remember, BMW released a flagship version of the XM named Label Red this spring. It came equipped with a 4.4-liter V8 and an electric motor built into an eight-speed automatic transmission. The combined output amounts to 748 PS and 1,000 Nm of torque.

He neglected to mention any further details. Our guess is that the M5 may get a mild power boost in this new version. Even if it doesn’t, it will probably be quicker on the uptake than the XM due to its lower curb weight. The XM Label Red is no slouch itself, though, with a launch time of 3.8 seconds. Later on, the M5 Touring wagon will get the same powertrain, too.

The rest of the specifications remain to be revealed, but BMW has already posted the first shots of the new M5. Car spotters have nabbed it testing on the streets, too. As for the current 5-Series lineup, it was introduced in late spring this year with the electric i5 M60 at the top.