New spy shots of what appears to be the M40i version of the upcoming BMW Z5 have surfaced. We have seen spy shots of the new Z5 driving on ice before, but this is the first time we see a high performance version tackle the Nürburgring.

With the new Z5 the Bavarian automaker will be bringing back the classic soft-top instead of the hardtop that is featured on the current generation Z4. The soft-top is likely to facilitate a more sharply chiseled rear end and will reduce weight on the new Z5, giving it a better performance edge.

The Z5 is a product of a partnership between BMW and Toyota, which should also soon lead to a market introduction of a new generation Toyota Supra. Rumors are both cars will be powered by a hybrid setup including a turbocharged 2.0-liter 4-cylinder engine sourced from BMW and two electric motors, producing a combined output of around 335 horsepower.

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