BMW will launch its first electric compact executive car in 2021 called the i4.

The new model will take the place of the 4 Series Gran Coupe, and will have a potential power output of more than 500PS.

Rivalling the Tesla Model 3, the zero-emission i4 will be desirable among company car drivers but also those wanting V8 levels of power.

It uses the brand’s fifth generation electric powertrain system that will debut in the iX3 next year.

The i4 will have a range of almost 380 miles and will be able to recharge at 150kW, adding 60 miles in six minutes.

Its 80kWh battery is more efficient than batteries used in existing electric BMW models, thanks to developments at the brand's Battery Cell Competence Centre.

BMW’s latest eDrive technology uses a highly integrated drive system in which the electric motor, transmission and power electronics are accommodated in a single housing. This drive system can be fitted to a number of different models in a range of output levels and scaled to suit varied segments.

By 2023, the BMW Group will have 25 models with electrified drive in its program, including Mini and Rolls Royce models. With a model portfolio that includes efficient combustion engines as well as modern plug-in hybrid and purely electric drive.