Tesla Model S-fighting 2023 BMW i7 electric car and Mercedes-Benz S-Class-rivalling 740i pricing and features revealed!

Buyers are facing a serious lack of choice at the entry point of Australia’s new-car market, with very few models available for under $20,000.

But those with much deeper pockets at the other end of the market now have more choice than ever before, with a number of offerings in the over-$200,000 luxury limo segment.

BMW has been a staple in the segment for decades and now the German giant has confirmed pricing for its new-generation 7 Series sedan, including the first electric version, the i7. Deliveries will kick off in the fourth quarter of the year.

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The 7 Series model range has been trimmed down to just two variants, from six for the outgoing version.

The range starts with the petrol-powered 740i from $268,900 before on-road costs, while the all-electric i7 xDrive60 starts from $297,900. Both are offered exclusively in Australia in long-wheelbase guise.

The closest rival to the 740i is the still-fresh long-wheelbase (LWB) Mercedes-Benz S450 4Matic L, that’s priced from $269,300 - just $400 more than the BMW.

The facelifted version of Audi’s A8 sedan is set to arrive soon, but pricing is yet to be confirmed. The 2021 LWB versions ranged in price from $208,000 to $212,000.

Other rivals include the Lexus LS (from $195,325) and Porsche Panamera (from $207,800).

Competitors for the i7 electric sedan include the Mercedes-Benz EQS, which is currently only available in AMG-fettled 53 guise and starts at $328,400 before on-road costs.

There’s also the Porsche Taycan from $159,700-$352,600 and the Tesla Model S, but pricing has not been confirmed for the soon-to-arrive 2022 model.

The 7 Series’ 3215mm wheelbase is 5mm longer than the previous LWB, and it is 130mm longer, 48mm wider and 51mm taller.

Under the bonnet of the 740i is a 48-volt mild hybrid powertrain with a ‘TwinPower’ turbocharged in-line six cylinder engine delivering 280kW and 540Nm, paired with an eight-speed automatic transmission. This helps propel the 740i from 0-100km/h in 5.4 seconds.

The 7 Series’ 3215mm wheelbase is 5mm longer than the previous LWB.

The i7 EV uses the fifth-generation version of BMW’s eDrive technology, with dual motors making for all-wheel drive traction, and a combined output of 400kW and 745Nm, ensuring a 4.7-second 0-100km/h dash.

It can drive for 625km according to WLTP standards before requiring a recharge.

Charging with a high-speed DC charger up to 195kW will add approximately 170km of range in 10 minutes, according to BMW. It can be charged from 10 per cent to 80 per cent in 34 minutes.

All i7s come standard with a BMW Wallbox home charging setup and free five-year subscription to the Chargefox public charging network.

Both variants come standard with an M Sport bodykit, while M Sport Pro is a no-cost option and adds more visual flourishes.

The 740i scores M carbon-fibre interior trim.

Inside the i7 comes standard with the BMW Theatre Screen that extends from the headliner and features a 31.3-inch, 8K resolution Amazon Fire TV, with a Bowers & Wilkins surround sound system and a 5.5-inch touch control display in the rear doors. This is optional in the 740i.

Other standard gear in the 740i includes 20-inch M alloy wheels, remote engine start, adaptive air suspension, illuminated kidney grille, panoramic glass roof ‘Sky Lounge’, M carbon-fibre interior trim, Heat Comfort Package, an interior camera, front massage seats and Driving Assistant Professional.

The i7 xDrive60 features 21-inch M alloy wheels, automatic doors, rear multifunction seats, Executive Lounge Rear Console, acoustic protection for pedestrians, BMW IconicSounds Electric, 39-speaker Bowers and Wilkins Diamond surround sound, Rear Seat Entertainment Experience and BMW Individual Gran Lusso Interior, Merino/Wool-Cashmere Combination Upholstery.

2023 BMW 7 Series pricing