The forthcoming electric BMW M3 due in 2027 and the next-generation petrol M3 will be “twins” that will be “in the same ballpark” in terms of price.

The first electric M3 (the exact name of which has yet to be finalised) will be based on the recently revealed i3 and will sit on the new electric Neue Klasse architecture.

Set to feature four electric motors driving each wheel and offer close to 1000bhp, it has already been spied testing extensively.

Despite the arrival of an M3 EV, the ICE M3 will be renewed for a new generation. It will continue to use the CLAR platform of the current 3 Series but will receive a styling makeover in line with BMW’s Neue Klasse design language.

Sylvia Neubauer, BMW M’s sales boss, told Autocar she's convinced that the division’s first production EV will “stay true to BMW M DNA”, adding: “It’s not only about acceleration and power, it’s about drivability, manoeuvrability and that level of trust and connection between the driver, car and road. With a high-performance BEV, you need to be able to trust it every millisecond, and the car is so convincing.”

Asked how she will win over existing BMW M owners who might be sceptical about electric performance cars to make the switch, Neubauer said: “We need to get you into the cars.”

The firm is planning a series of drive tours to allow M owners to sample the EV, and Neubauer added: “Obviously we will not convince 100% out of the petrolhead target group to buy an all electric BMW M3. But out of 100 people that try it, we will be able to convince some. And for everybody else, we will still provide combustion engines.”

Neubauer added that she had no concerns about introducing an electric M3 despite the faltering growth in EV sales, noting that BMW retained significant capability to adjust production to fit demand. “The good news is that from a pricing perspective, that are in the same ballpark,” she added.

Offering the two M3s alongside each other will give customers “the choice”, she said. "There will be functional differences that lead to a different design in some areas of the car, but when you look at them, you will see that they are twins.”

Neubauer said M wouldn’t specifically target different buyers for the petrol and electric M3s, explaining: “Mainly it's a high-performance target group. But within that high-performance target groups, you have those with more progressive all-electric mindsets and the ones that are diehard petrolheads who will stay in an ICE vehicle forever.

“But it's always a BMW M. When we talk about the BMW M3, it’s the M3 no matter the drivetrain. The driving experience must be true, and you decide it you want EV or ICE.”