BMW announced a new electric 7 series luxury sedan, the i7 xDrive60. The upcoming EV will have an estimated range of “up to 300 miles” and a starting price of $120,295. Interested car buyers can pre-order the i7 starting today and deliveries are expected to start later this year.

Chock full of high-tech features, like a massive 8K theater screen for rear passengers, BMW is hoping the i7 will become a segment leader in the increasingly crowded luxury electric sedan space. Certainly the automaker’s 7 series has long held the place as the brand’s ultimate expression of luxury (alongside the 8 series). And BMW recently nipped the crown for best-selling luxury brand in the US from Mercedes-Benz, but Tesla is right on its heels.

The i7 can’t beat Tesla in battery performance and range, but it can certainly compete in performance. Featuring two electric motors with a combined output of 536 horsepower and 549 pound-feet of torque, the i7 xDrive60 will sprint from 0–60mph in about 4.5 seconds.