We’ve been waiting for one particular announcement from BMW for quite some time now. The introduction of the BMW M850i xDrive announced a new version of the 4.4-liter twin-turbo V8 otherwise also known as N63 by fanatics. It’s one of the longest-lasting engines in the current line-up and has gone through several upgrades. Being the same mill used on the M550i, we’ve been patiently waiting for the 5 Series range to get the new version as well.

Well, it seems like that moment will come this summer. BMW just announced that the 5 Series range is getting some technical upgrades this year and the biggest announcement is the arrival of a new M550i xDrive model. In European markets, it will get the same  4.4 liter twin-turbocharged V8 from the BMW M850i, making 530 PS  (523 hp) and 750 Nm (553 lb-ft) of torque. That’s a massive increase compared to the previous iteration of the M55oi, which tapped out at 462 PS. Unfortunately, BMW didn’t provide more tech data for the M550i, such as acceleration times.

Another big news is the upgraded BMW 530e, which will get a newer battery with more power in the same compact packaging. The all-electric range is said to be 64 kilometers now (40 miles) as the new battery now has a n upgraded capacity of 12 kWh. We’ll also get the chance to order the BMW 530e in xDrive guise in all markets starting this summer. The 5 Series Touring range will also get the Individual treatment starting this summer, while more tech will become standard.

Furthermore, so far, laser lights were not available on the 5 Series but all that will change this July, as the M550i xDrive and M550d xDrive models will be available with the latest illumination tech as an optional feature.

We think fans will be excited about the BMW M550i getting a big power upgrade. It allows buyers to have M5-levels of speed while also getting more comfort and luxury than the harder, sharper M5 provides.