BMW has just announced official pricing and EPA range estimates for the first of its Neue Klasse electric SUVs. The news is good, very good actually, unless you're dead-set against anything that doesn't burn fuel. That's because the iX3 outclasses its gas-powered X3 sibling in pretty much every way.We present the 2027 BMW iX3 50 xDrive, which admittedly has a horrible name but makes up for that with some incredible specs. The new SUV has a whopping 434 miles of range, and its starting price is $5,000 lower than the less-powerful gas-engined X3 M50. Price Parity In A Luxury Sports EV Is Finally Here BMWLet's not beat around the bush any longer. Pricing for the 463-hp AWD iX3 50 starts from $61,500, plus a $1,350 destination and handling fee. That's $5,000 less than an X3 M50 gas model, which only makes 393 hp from a 3.0-liter I6. Furthermore, with just a 17-gallon tank, the gas X3 goes approximately the same distance. However, when you stop to tank up, the iX3 isn't drinking gas that's now well over $4 per gallon... for the cheap stuff.To be fair, the 2027 iX3 is$10,200 more than the X3 30 xDrive, so you can get the gas model cheaper. But it's not a direct comparison, since the lower-spec X3 only makes 255 hp from a 2.0-liter four. And you won't recharge the iX3 as quickly as gassing up any X3, but it's not slow, either. With a fast charger and optimal conditions, BMW says the iX3 can charge from 10% to 80% in 21 minutes.With these specs, BMW's new EV is a nightmare for the competition. It's $3,500 less than the Mercedes EQE 320+, which offers just 315 hp and 302 miles of range. It is undercut by the Tesla Model Y all-wheel drive, which starts from $41,990, but calling that 294-mile EV a competitor is doing both a disservice. What Else Does The iX3 Offer? BMWThe iX3 comes standard with bi-directional charging so you can power things from your vehicle. It has the BMW Panoramic Vision display system and the latest iDrive, and it is loaded with tech including digital key, wireless phone charging, active blind spot detection, lane keeping, and more.Options include the $1,500 comfort package with a heated wheel and panoramic glass roof. The $2,500 Driving Assistance Professional pack comes with highway and commuting assistant, traffic jam assistant, and active lane change driver asissts. The M Sport pacakge for $2,500 includes an M steering wheel, M-design wheels, and M sport design features inside and out, and there are several other options and option packs to choose from. Neue Klasse Launches A New Era For BMW BMWThe new iX3 is a huge deal for BMW. This electric SUV launches an entirely new design language, a completely new electrical system, and even an entirely new way of laying out the dash and interior. We've already driven the new model, and spoke about it at length, and so far, we're struggling to find any reason to not love it.With a 108.7 kilowatt-hour battery pack, BMW sets a very high bar for range. Original estimates from BMW were around 400 miles, putting it ahead of nearly all other production EVs. With 434 miles of range, it seems BMW under-promised and over-delivered. That puts it ahead of all EVs with EPA ratings, save for just one – the Chevrolet Silverado EV Max Range trim, which goes 478 miles but is significantly larger and way more expensive. The Lucid Air Grand Touring should also beat it at 512 miles, but it's not included on EPA's list.Like all EVs, BMW's range is dependent on many factors, including tires. You'll only get 434 miles with the most efficient tire choice mounted up: 20-inch summer tires. Switch to all-seasons and the range plummets to 383 miles. Larger 21-inch summer tires are good for 398 miles, versus 399 for 21-inch all-seasons. And if you really want to look flashy, the 22-inch wheels with summer tires provide 392 miles of range.The iX3's 800V electric architecture lets you charge at 400 kW through the standard NACS port. If you don't have time to get that 80% back, you can reclaim 185 miles of range in about 10 minutes. It can even charge at 15.4 kW with the right L2 home charger.The configurator is live now on BMW's website, and customers can make a reservation with a $1,000 deposit. The official market launch doesn't start until early fall, however – September 25 to be exact. Expect deliveries to begin shortly after that.