The 2016 Jaguar XE was just unveiled to the world as the latest competitor to the BMW 3 Series.

Borrowing some of the best styling elements from Jaguar’s current line-up, the XE delivers an elegant yet sporty design, The front end stands out with XJ-like headlights, a long hood and large air intakes. The side vents were imported from the beautiful F-Type.

In the back, the midsize sedan showcases a sloping roofline, muscular fenders and sleek design of the boot. Functionally, the XE’s sleek body boasts a drag coefficient of just 0.26.

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But the best of all is the aluminum-intensive chassis, the first model developed from the new JLR modular vehicle architecture. The XE also contains 101lbs. of recycled plastics and renewable materials.

According to Jaguar, the Jaguar XE will be its first car to arrive with electric power-assisted steering.

The 340-hp model will be the range-topping entry and can hit 60 miles per hour in 4.9 seconds before reaching a limited top speed of 155 miles per hour. That sprint to 60 is 0.2 seconds faster than a BMW 335i and it ties the Audi S4. The rest of the engines available on the XE will be part of a new “Ingenium” family, which will be built in the UK using a modular design. Power will be sent to the rear wheels, although Jaguar says the XE’s modular architecture can offer all-wheel-drive systems as well.

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Jaguar XE officially launches next year as a 2016 model in the UK, customers in the US won’t be able to get their hands on it until 2016.