BMW's new $120,000 electric luxury sedan has a 31-inch fold-out TV and more than 500 horsepower

• BMW unveiled the electric version of its flagship 7-Series sedan.
• The i7 starts at $120,000 and offer luxuries like a TV screen and panoramic glass roof.

BMW unveiled its latest weapon in the fight against Tesla: the new i7 sedan. The electric flagship starts at $120,000 and should hit US dealerships by November.

On Wednesday, the German carmaker revealed the latest iteration of its largest, most luxurious 7-Series sedan. The 2023 lineup includes a gas-fueled version with a six-cylinder and eight-cylinder engine options, along with the battery-powered i7. Combustion-engine models start at around $94,000.

Tesla, a company synonymous with electric cars, has been nipping at BMW's heels in the US market, though the German brand more than doubled Tesla's sales globally last year. BMW's i7, along with the previously announced iX SUV and i4 sedan, could help the brand carve a slice of the rapidly growing electric market.

BMW says the all-wheel-drive i7's dual motors can churn out a combined 536 horsepower, enough to rocket the hulking, 5,900-pound sedan to 60 mph in 4.5 seconds. BMW is aiming for a range rating from the Environmental Protection Agency of around 300 miles, which is wholly respectable but less than super-expensive electric models from Tesla, Lucid Motors, and Mercedes-Benz.

According to BMW, the i7 can add 80 miles of range in 10 minutes of charging, or charge from 10-80% in 34 minutes. Buyers get three years of free charging at Electrify America stations.

While BMW labels itself "the ultimate driving machine," the 7-Series is more about comfort than agility. Extra long and built with back-seat space as a priority, it's a car to be driven in.

The star of the sedan's interior is a 31.3-inch display that drops down from the ceiling to turn the rear seat into a mobile movie room. It comes with Amazon Fire TV and uses 5G connectivity built into the car. Passengers control the whole interface — and other settings like the A/C and interior lights — using smartphone-sized touchscreens built into either door. A panoramic glass roof comes standard.

BMW says all of the car's seats are wider than the outgoing model, and buyers can opt for reclining rear seats with leg rests and a massage function. Other notable options include doors that open and close automatically at the press of a button, along with fancier interior materials.

The i7 is available to preorder now with a $1,500 deposit.