While it's only been a couple of years, it feels as though we've been waiting for BMW's first electric M car for ages. And that wait isn't completely over, but we're getting extremely close to the end. Just ahead of this years running of the 24 Hours of Le Mans, the automaker has revealed the M Concept Neue Klasse, which is our first look at what will become the iM3, effectively the electric M3.BMW It Looks Close To Production Even though this M Concept is, well, a concept, it's clear the production car will be seriously similar. The basic shape of the greenhouse, the headlight and grille sections and the wide, slender taillights are clearly based on the i3 and its progenitor, the Neue Klasse concept. Of course, M took everything up multiple notches elsewhere. The fenders have been pushed out to nearly comedic proportions and filled with intricate, geometric 21-inch wheels. They're shod in 275-mm wide tires at the front and 335-mm wide ones at the rear.BMW At the front, BMW M says it gave the car a "trimaran-style bumper" inspired by sail boats, which is echoed at the rear. While we do see the connection to the triple-hulled boats, we have a hard time believing that's the actual inspiration, and more that it's contrived to explain the middle support pillar that extends from the "V" shape in the hood. The rear bumper similarly blends in with the dip in the trunk lid, which splits the functional rear spoiler. Whether you believe BMW M's boat story, each end of the M Concept looks clean and purposeful.BMW The headlights feature yellow accents, which have been previously used on special edition BMW M cars, and M says will become a signature of future M cars and racecars. M also calls the fog lights and their corresponding rear lights "Track Lights" for some reason. They look fine to us, so the company can call them whatever it wants.BMW The hood has a huge extractor vent that BMW M says is fully functional. It apparently vents heat from the front powertrain components. The little flaps in there is also made from a natural fiber composite, which is also used for the front splitter and the rear diffuser components. Other natural fiber components show up in the interior and on the roof.BMW On the topic of the interior, it also looks pretty close to production. The bucket seats look similar to the aggressive optional units available in some production BMW M cars. They're wrapped in bright blue and red leather based on the colors of the M logo. They feature full harnesses with harness bars and a roll bar, the latter of which is wrapped in leather. We're certain that those parts will not be included on the production model.BMW The dash layout and steering wheel are clearly close to the i3. The full-width head-up instrument cluster shows up on top of a sparse dashboard. The dash itself is covered in a knit fabric with funky backlighting on the passenger side. It's reminiscent of what we've seen on modern Mini products, so we could see it appearing in the final product. The wheel, which is wrapped in nubuck leather, has one of the more normal looking hubs and spokes of any i3 model, and it has bright red M buttons for preset drive modes. The center console sees the most changes as it makes the electronic shifter much more prominent.BMW BMW Still Won't Share Detailed Specifications We're glad to finally get a look at essentially the new iM3, but it's frustrating that we still don't have concrete specifications for the car. All BMW shared were some of the basics that have been known for some time. It will have four electric motors, and they'll be powered by an 800-volt battery pack that has a capacity of more than 100 kWh.We're left to guess the rest based on the prototypes that have been shown so far. It could have as little as around 700 horsepower, or as much as 1,300. It will be able to disable the front motors for rear-drive antics as desired, and it will have a simulated gear shift system (seemingly further confirmed by the paddles behind the steering wheel).We will hopefully have final details in the near future. A previous leak said that iM3 production would begin in March of next year. Assuming that's still the plan, we would bet on BMW fully revealing the production car either later this year, or very early in 2027. CarBuzz Insight – Why This Matters: This is a real make-or-break moment for BMW. In an environment where automakers have dialed back their electric plans, BMW is putting its electric efforts front and center by launching its next-generation 3 Series and M3 first as EVs with no combustion options immediately available. This is an especially bold move for a model as beloved by long-time BMW fans as the M3, and those fans aren't necessarily open to the latest in technology.BMW Remember, BMW has retained a manual, rear-drive version of the current combustion M3 and M4 in its lineup, even as it's thoroughly outgunned by automatic and all-wheel-drive versions of the same car. So this is a potentially risky strategy. It does say something about the brand's confidence, though, and the fact a combustion variant is coming later will give BMW an out if this strategy backfires.BMW M Concept Neue Klasse front three-quarter