BMW i7? An electric version of the next 7 Series has been confirmed.

BMW announced that it is working on a redesign of the 7 Series and will offer a battery-powered version of the new full-size sedan.

The announcement was made by BMW Group CEO Oliver Gips at BMW's annual shareholder meeting on Wednesday in Munich, Germany.

He stated that the next 7 Series will be offered with gasoline, diesel, hybrid and electric powertrains - the first time such a number of powertrains are offered for a single BMW model.

The updated 7 Series is expected to debut in 2022, and given BMW's current electric vehicle naming strategy, the electric version will likely be called the i7.

The model will be built on the CLAR platform, which is flexible enough to support multiple powertrains. The 7 Series electric vehicle will utilize the fifth-generation battery and electric powertrain technology used in BMW's iNext midsize SUV, which will debut next year.

This technology will allow the use of a battery with a capacity of up to 120 kilowatt-hours, providing a range of up to 400 kilometers. The powertrain is capable of developing up to 720 hp and has a modular design that combines the electric motor, transmission and power control unit in a single housing.

Three such powertrain modules powered the 5 Series demo presented by BMW last year: two independently drove the rear wheels, providing torque vector control, and one drove the front pair. This system allowed BMW to increase the power and all-wheel drive capabilities of individual models by simply adding or subtracting drivetrain modules.

In his speech, Gipset confirmed the BMW Group's plan to produce 25 electrified models under the BMW, Mini and Rolls-Royce brands by 2023. More than half of them will be electric. The first of these vehicles has already appeared in the form of the Mini Cooper S E. The next will be the iX3, based on the BMW X3, which will be launched later this year, but that model won't be available in the U.S.. The iNext will launch around mid-2021, and the i4 compact sedan will launch in late 2021.

The BMW Group expects demand for electrified models to double as early as 2021 compared to 2019, and then grow at more than 30% per year through 2025. Automakers have pledged to spend more than €30 billion ($33 billion) by 2025 to support the development of electrified vehicles, which will mean spending cuts in other areas. One area that will see a reduction is the development of internal combustion engines.