A few months ago, a rumor emerged claiming that the next-generation BMW 5 Series will offer a wagon variant, including an all-electric i5 Touring.

Our keen-eyed spy photographers can confirm that the rumors of an electrified 5 Series Touring are true, but it's unclear if this is the i5 or a plug-in hybrid. BMW didn't move the car all day, so we only have these side-view shots of the vehicle.

The "electrified vehicle" sticker proves this is at least a PHEV, but we'd guess it's the i5 based on the lack of visible tailpipes in the back. We've spotted the next-generation BMW 5 Series Hybrid and i5 before, but it is our first time seeing the wagon.

There is still very little information regarding the 5 Series PHEV and i5's powertrains.

The former will likely use a four-cylinder or six-cylinder engine with a turbocharger, a hybrid system, and a battery. We know a bit more about the latter, which is expected to arrive with three variants: eDrive40, xDrive40, and i5 M50.

The eDrive40 will be rear-wheel-drive, while the xDrive40 and M50 will have dual electric motors to create an electronic all-wheel-drive system. Based on what we've seen from the i4 M50, the i5 range-topper should produce well over 536 horsepower.

Back on the hybrid side, the next-generation M5 will combine internal combustion and electricity.

BMW has been spotted testing an M5 prototype with electrified vehicle stickers, confirming this rumor. The next-gen M5 should feature a twin-turbo V8 under the hood, combining with electric motors to deliver around 650 hp. BMW may even create a 735-hp version using the same powertrain setup as the XM Label Red, though that's still unconfirmed.

The 5 Series Sedan and Touring (Wagon) should debut in 2023 as 2024 models, but it's still being determined if the electric i5 will arrive simultaneously.

BMW launched the 7 Series and i7 at the same time, so the 5 Series could follow the same strategy. As for the M5, we may not see that model until late 2023 or even 2024.