BMW and boat maker Tyde have unveiled The Icon - a new watercraft that's set to rival the Lexus LY in the realm of luxury yachts. With the 76th Cannes Film Festival as a backdrop to its arrival, The Icon is touted to be the first of its kind to feature a battery-powered marine propulsion system.

BMW spearheaded the development of The Icon, while Tyde turned the concept into reality. Designworks, a subsidiary of the BMW Group, was responsible for the design, while the electric drive system is also powered by a BMW. One of its key features is hydrofoil technology derived from yacht racing. According to the German marque, this innovation significantly reduces energy consumption by up to 80% compared to conventional hulls, while also providing enhanced comfort and higher speeds.

The Icon is propelled by two 100-kW electric motors, which convert the energy stored in six BMW i3 batteries into a quiet journey at sea. Measuring 43 feet in length (shorter than the 65-foot Lexus LY), it can reach a top speed of 30 knots or 35 mph. In comparison, the Volvo IPS 1350 motor-equipped Lexus LY has a top speed of 32 knots or 37 mph.

Like the interior soundtrack of the BMW i7, The Icon features an exclusive soundtrack composed by two-time Oscar winner Hans Zimmer. The yacht also boasts a Dolby Atmos sound system, which should provide a rich listening experience to the passengers and crew alike.

Inside, The Icon has a lounge area decorated with artistically designed furniture. The 360-degree rotating seats are said to have the capacity to adapt to different occasions, as well as enhance interaction among passengers. Meanwhile, the digital control unit uses BMW's iDrive, while functions are accessible through voice commands and the 32-inch touchscreen display with 6k resolution.

BMW's The Icon adds to the list of cool things automakers make beyond cars. If you're interested, BMW and Tyde haven't disclosed the pricing as of this writing, but doubtless, it's something that only one-percenters can afford.