BMW has said that its flagship iX electric SUV will be available with two drivetrain options from launch with the lower-spec model’s price putting it on a level with a combustion-engined X5.

The iX will go on sale later this year in XDrive40 and XDrive50 guise, alongside the i4 saloon as part of BMW’s rapidly expanding programme of electrified cars.

Both versions of the large and challenging-looking SUV will feature a twin-motor setup offering all-wheel-drive. XDrive40 variants will produce 296bhp and offer a 0-62mph time of just over six seconds, and will be fitted with a 70kWh battery for a maximum range of around 250 miles.

The more performance-oriented XDrive50 ups the power game to around 500bhp and cuts the 0-62mph time to under five seconds. The range-topping version also gets a battery upgrade, with a 100kWh unit offering up to 373 miles of range.

Both versions will feature ultra rapid charging but while the XDrive40 will be limited to 150kW, the XDrive50 will be capable of charging at up to 200kW, meaning a 10-minute charge will be sufficient to add between 56 and 75 miles of range. Both versions will be able to go from 10 per cent to 80 per cent charge in under 40 minutes.

The iX will be among the first vehicles to get BMW’s latest Operating System 8 with a new generation of screens, controls and software, and the marque says the technology underpinning the car will allow for more advanced automated driving and parking functions.

It also uses new motor technology to reduce reliance on rare earth metals, which has the added benefit of allowing a broader torque band and more immediate response. BMW says the result is “lightening quick and unusually consistent” power delivery.

BMW has confirmed that the XDrive40 will cost from £69,000 – putting it on a par with higher-spec versions of the X5, which is a similar size to the iX. Prices for the XDrive50 are still to be confirmed but expect a hefty increase over the lower-powered model.