BMW is charging (pun intended) into electrification with a quartet of all-electric vehicles ranging (pun also intended) from the BMW i4 on the lower end of the price spectrum to the BMW i7 at the top end. With all four vehicles drivers who lease or purchase get the legendary BMW handling, safety, technology, style and luxury that make BMW “The Ultimate Driving Machine.”

You may want to save money on fuel, and you will. If your concern is lowering your carbon footprint, a BMW electric vehicle certainly will do that: EVs create no tailpipe emissions. And, let’s be honest, when appearances matter being seen in a BMW creates quite an impression!

Purchasing an EV may come with some tax advantages. And every BMW EV comes with an eight-year/100k-miles battery warranty.

The BMW i4 Gran Coupe offers multiple choices, including the i4 eDrive35, i4 eDrive40 i4 xDrive40 – Fast-faster -fastest.  All seat five comfortably in available heated front seats or front ventilated seats. A moonroof is standard, as is a power tailgate.  

The i4 eDrive35 offers a single all-electric motor powered by a lithium-ion battery that develops 282 hp and 295 lb-ft of torque. It accelerates from zero-60 mph in 5.8 seconds, topping out at 118 mph. Its range is 252-276 miles. The i4 eDrive40 offers a single all-electric motor powered by a lithium-ion battery that develops 335 hp and 317 lb-ft of torque and accelerates from zero-60 mph in 5.4 seconds with a top speed of 118 mph and a total range of 283-301 miles. The i4 xDrive 40 offers a single all-electric motor powered by a lithium-ion battery that provides 396 hp with 443 lb-ft of torque. It blazes from zero-60 mph in 4.9 seconds with a top speed of 124 mph. Its range is 279-307 miles.

The BMW i4 is the real deal, and has a place on the Autotrader.com list of “10 Best Electric Cars for 2023.”

The BMW i5 is a four-seat sporty business sedan that marries an executive presence with legendary BMW technology and performance. It drives like an electric, accelerates like an electric, saves on fuel like an electric, but “features a soundscape designed to simulate and transcend the sound of an engine.” 

The BMW i5 eDrive40 has a single all-electric engine powered by a lithium-ion battery.

With 335 hp and 295 lb-ft of torque, it can from zero-60 mph in 5.7 seconds with a top speed of 120 mph. It has a total range is from 270-295 miles

The i5 brings some new goodies to the party, including being able to play video games using the Air Console app on your smartphone. 

BMW’s flagship electric i7 model goes electric in three versions: the BMW i7 eDrive50 and i7 xDrive60. These wear their sedate sedan exterior lightly, concealing a lot of power under a veneer of luxury and comfort.  Make no mistake, the BMW i7 is all BMW, and it’s built to perform!

The i7 eDrive50’s high-performance electric motor is powered by a lithium-ion battery and is lightning fast at 449 hp with 549 lb-ft of torque, speeding from zero-60 mph in 5.3 seconds with a top speed of 130 mph. The range on a full charge is up to 317 miles, and it will home charge to 100% in under 10 hours or add about 90 miles of range in 10 minutes at an Electrify America station. The i7 xDrive60 is powered by dual high-performance electric motors using a lithium-ion battery that gives 536 hp and 549 lb-ft of torque, sprints from zero-60 mph in 4.5 seconds with a range of +/- 318 miles

Car and Driver said the i7 “lives up to the luxury car’s reputation and delivers a futuristic experience for both the driver and passengers.”

If you want luxury, all-wheel drive, plus lots of room to carry stuff in an all-electric package, look to the BMW iX Sport Activity Vehicle in one of two versions: iX xDrive50 and the iX M60.

The iX xDrive 50 has dual all-electric motors powered by a lithium-ion battery. It’s rated at 516 hp with 564 lb-ft of torque and does zero-60 mph in 4.4 seconds with a top speed of 124 mph.

It has a total range of 307 miles and can top up with 90 miles of range in 10 minutes on a DC Fast Charger.

The critics laud the iX for its power, performance, and – even though it is quite large – for how well it handles. 

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Most Coloradans wouldn’t pass up an opportunity to get or save as much as $5,000. It isn’t exactly chump change. That’s how much the State of Colorado is offering taxpayers if you purchase or lease a plug-in hybrid (PHEV) or battery electric vehicle (BEV). That’s in addition to up to $7,500  federal tax credit offered under the Inflation Reduction Act. It’s all part of a push to get people out of dirtier greenhouse gas-emitting vehicles and into zero-emissions vehicles.

Basic Information

Of course, terms and conditions apply – some in the “Duh!” category, but others less obvious. Here’s some top-line info:

Individual taxpayers, estates, trusts, and C corporations may claim the credit on each PHEV or BEV they purchase/lease; partnerships or S corporation members may claim the credits. Vehicles must be new at purchase/lease and titled and registered in Colorado. Used vehicles are not eligible. The manufacturer’s suggested retail price (MSRP) can’t exceed $80,000.  Lease agreements must initially be for at least two years, and the credits go to lessees, not to lessors. Vehicles must weigh 8,500 lbs. or less, have four wheels, and be able to go at least 55 mph. Vehicles must be powered “to a significant extent” by electric motors. Batteries must have a capacity of at least 4 kWh and be capable of being recharged from external power sources. Taxpayers who qualify for the credits and finance their PHEVs or BEVs can assign the credits at the time of purchase/lease to the financing entity; they won’t be able to subsequently claim the credits on their taxes. The financing entity can offer the buyers/lessees a cash payment, reduced price, reduced payments, or other considerations.

There’s More

Colorado has actually made tax credits available for several years – the amounts have varied by year. And additional tax credits are coming for some vehicles beginning in January 2024 through December 2029. These credits are specifically targeted at vehicles with an MSRP under $35,000. 

While the information outlined here provides the basics, it’s very important to do your own research and perhaps consult a tax expert – we are not offering tax advice. The rules, spelled out in (almost) clear language – it’s the government, after all – are spelled out in this publication. You could also take a look at Drive Electric Colorado for more information.

Xcel Energy Rebates

In addition, Xcel Energy is offering some of its residential household customers rebates for buying or leasing pre-owned or new EVs. 

Qualifying households must have incomes equal to or below 60% of Colorado’s median income. Qualifying households must be enrolled in a state financial assistance program such as the Low-Income Energy Assistance Program (LEAP) Eligible EVs must be bought or leased from a Colorado auto dealership.

For more information, see the Xcel Energy EV Rebate website.