The 2024 BMW i7 represents the pinnacle of BMW’s electric luxury sedan lineup, combining opulent comfort with cutting-edge EV technology. For luxury car buyers considering the transition to electric, understanding the complete cost picture is essential. This comprehensive guide breaks down the 2024 BMW i7 Electric cost across all available trims, optional packages, and potential incentives to help you make an informed decision about this premium electric vehicle.
2024 BMW i7 Base Price Overview
The 2024 BMW i7 lineup has expanded to include three distinct models, each offering different performance levels and features. The starting MSRP for the BMW i7 begins at $105,700 for the entry-level eDrive50 model, plus a $995 destination charge that applies to all versions.
The base price represents a significant investment, but it’s important to understand what’s included before considering additional options. The i7 comes generously equipped even in its standard configuration, reflecting its position as BMW’s electric flagship sedan.
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2024 BMW i7 Trim Levels and Pricing
The 2024 BMW i7 is available in three distinct trim levels, each offering different performance capabilities, range, and features. Here’s a detailed breakdown of each model’s pricing and what makes them unique:
BMW i7 eDrive50 – Starting at $106,695
The eDrive50 is the new entry-level model for 2024, featuring rear-wheel drive with a single electric motor producing 449 horsepower. Despite being the most affordable option, it offers the longest range in the lineup at up to 321 miles with the standard 19-inch wheels. Key features include:
- Rear-wheel drive configuration
- 0-60 mph acceleration in 5.3 seconds
- 101.7 kWh usable battery capacity
- Panoramic Sky Lounge Roof (new standard feature for 2024)
- Highest EPA-estimated range of 321 miles
BMW i7 xDrive60 – Starting at $125,195
The mid-tier xDrive60 model adds all-wheel drive capability with dual motors generating a combined 536 horsepower. For 2024, the price has increased by $4,900 compared to the 2023 model. Standard features include:
- Dual-motor all-wheel drive system
- 0-60 mph acceleration in 4.5 seconds
- Up to 317 miles of range with 19-inch wheels
- Massaging front seats (new standard feature for 2024)
- Luxury Rear Seating Package with ventilated and massaging rear seats
BMW i7 M70 – Starting at $169,495
The performance-oriented M70 is new for 2024 and represents the pinnacle of the i7 lineup. With 650 horsepower and enhanced performance features, it delivers supercar-like acceleration in a luxury sedan package:
- High-performance dual-motor setup with 650 horsepower
- 0-60 mph acceleration in just 3.5 seconds
- M-specific styling and performance enhancements
- Up to 291 miles of range with 21-inch wheels
- Enhanced driving dynamics with M-tuned suspension
| Model | Base Price | Destination Charge | Total MSRP | Drivetrain | Horsepower | 0-60 mph |
| i7 eDrive50 | $105,700 | $995 | $106,695 | RWD | 449 hp | 5.3 sec |
| i7 xDrive60 | $124,200 | $995 | $125,195 | AWD | 536 hp | 4.5 sec |
| i7 M70 | $168,500 | $995 | $169,495 | AWD | 650 hp | 3.5 sec |
Compare i7 Models Side-by-Side
See detailed specifications and feature differences between all BMW i7 trims.
Range and Wheel Options Impact on 2024 BMW i7 Electric Cost
The wheel size you select for your BMW i7 has a significant impact on both the vehicle’s range and price. Interestingly, the relationship between wheel size and range isn’t always linear, with some larger wheel options actually providing better efficiency than mid-size options.
Range by Wheel Size and Model
| Model | 19-inch Wheels | 20-inch Wheels | 21-inch Wheels |
| i7 eDrive50 | 321 miles | 301 miles | 311 miles |
| i7 xDrive60 | 317 miles | 298 miles | 307 miles |
| i7 M70 | N/A | 274 miles | 291 miles |
Interestingly, BMW has priced many wheel options the same across different sizes. For the eDrive50, 20-inch and 21-inch wheels both cost $107,995, despite the 21-inch offering better range. Similarly, the M70 has no price difference between its 20-inch and 21-inch wheel options, both priced at $169,495.
For the best value proposition, the i7 eDrive50 with 19-inch wheels offers the longest range at 321 miles while maintaining the lowest entry price of $106,695.
Additional Costs and Optional Packages for the 2024 BMW i7
Beyond the base price, several optional packages and customization options can significantly increase the 2024 BMW i7 Electric cost. These options allow buyers to tailor their vehicle to specific preferences and needs.
Premium Packages
The i7 offers several premium packages that bundle popular features together:
- Executive Package: $6,550 – Now includes the contents of Premium Package 2 (illuminated grilles, park assist, 360-degree camera system)
- Rear Executive Lounge Seating: $7,250 – Includes power-adjustable reclining rear seats with massage function, wireless charging, and premium headrests
- Driving Assistance Professional: $2,100 – Adds hands-free driving capabilities for highway use and advanced driver assistance features
- Parking Assistant Package: $900 – Enables remote parking via smartphone app
Interior and Entertainment Upgrades
Enhance the luxury experience with these interior options:
- Bowers & Wilkins Diamond Surround Sound: $4,800
- 31.3-inch Theater Screen: Part of premium packages, this ceiling-mounted screen transforms the rear seat into a mobile cinema
- BMW Individual Composition: $5,450 – Custom interior materials and finishes
- Luxury Rear Seating Package: $600 (Standard on xDrive60 for 2024)
Exterior and Performance Options
Customize the appearance and enhance performance with these options:
- Premium Paint Options: Up to $5,000 for special finishes like Frozen Deep Grey
- M Sport Professional Package: $950 – Adds sporty styling elements
- 21-inch Wheels with Performance Tires: $1,300 (on some models)
- Solar-Reflecting Laminated Glass: $1,300
A fully-loaded 2024 BMW i7 M70 with all available options can exceed $185,000, placing it firmly in the ultra-luxury vehicle segment.
Explore Financing Options
BMW offers flexible financing solutions to help make your i7 ownership more accessible.
Battery, Range, and Charging Costs
The 2024 BMW i7 Electric cost extends beyond the purchase price to include considerations about range, charging, and battery performance. All i7 models feature the same 105.7 kWh battery pack (101.7 kWh usable capacity), but range varies by model and wheel size.
Charging Capabilities and Costs
The i7 supports fast charging that can add significant range in minimal time:
- DC Fast Charging: Up to 195 kW, adding 80 miles in just 10 minutes
- 10-80% charge time: Approximately 34 minutes at maximum charging speed
- Home charging: Complete recharge in approximately 12 hours with a Level 2 charger
- Complimentary Charging: Three years of free 30-minute charging sessions at Electrify America stations (included with purchase)
Energy Consumption and Efficiency
Energy efficiency varies significantly across the i7 lineup, affecting long-term operating costs:
| Model | Combined MPGe | City MPGe | Highway MPGe | Energy Consumption |
| i7 eDrive50 (19-inch) | 90 MPGe | 87 MPGe | 95 MPGe | 374 Wh/mi |
| i7 xDrive60 (19-inch) | 90 MPGe | 87 MPGe | 93 MPGe | 374 Wh/mi |
| i7 M70 (21-inch) | 81 MPGe | 79 MPGe | 85 MPGe | 416 Wh/mi |
The i7 M70 consumes significantly more energy than the other models, which will result in higher charging costs over the vehicle’s lifetime. However, all i7 models are still considerably more efficient than equivalent gas-powered luxury sedans.
Available Incentives and Rebates for the 2024 BMW i7 Electric
While the 2024 BMW i7 Electric cost is substantial, various incentives may help offset the purchase price. However, it’s important to note that the i7 does not qualify for the federal tax credit due to its price and import status.
Federal Tax Credits
The BMW i7 does not qualify for the federal EV tax credit of $7,500 due to two disqualifying factors:
- The i7 is imported to the United States rather than being manufactured domestically
- The vehicle’s price exceeds the $55,000 MSRP cap for cars under the Inflation Reduction Act
State and Local Incentives
Despite the lack of federal incentives, various state and local programs may still apply:
- California Clean Vehicle Rebate: Up to $2,000 (income restrictions apply)
- New Jersey Zero Emission Vehicle Rebate: Up to $4,000
- New York Drive Clean Rebate: Up to $2,000
- Colorado Innovative Motor Vehicle Credit: Varies by tax year
- HOV lane access in many states regardless of occupancy
- Reduced registration fees in select states
BMW-Specific Incentives
BMW offers several ownership benefits that add value to the i7 purchase:
- Complimentary Charging: Three years of free 30-minute charging sessions at Electrify America stations
- Complimentary Maintenance: BMW Ultimate Care covers scheduled maintenance for 3 years/36,000 miles
- Comprehensive Warranty: 4-year/50,000-mile limited warranty
- Battery Warranty: 8-year/100,000-mile coverage for EV components
While the i7 doesn’t qualify for federal tax credits, the combination of state incentives, complimentary charging, and included maintenance can still provide significant value over the first few years of ownership.
2024 BMW i7 Electric Cost Compared to Competitors
To put the 2024 BMW i7 Electric cost in perspective, it’s helpful to compare it with other luxury electric sedans in the market. This comparison highlights where the i7 sits in the premium EV landscape.
| Model | Starting MSRP | Max Range | Horsepower | 0-60 mph | Fast Charging |
| 2024 BMW i7 eDrive50 | $106,695 | 321 miles | 449 hp | 5.3 sec | 195 kW |
| 2024 Mercedes EQS 450+ | $104,400 | 350 miles | 329 hp | 5.9 sec | 200 kW |
| 2024 Lucid Air Pure | $71,400 | 410 miles | 430 hp | 4.5 sec | 250 kW |
| 2024 Tesla Model S | $76,630 | 405 miles | 670 hp | 3.1 sec | 250 kW |
| 2024 Porsche Taycan | $92,550 | 246 miles | 402 hp | 5.1 sec | 270 kW |
Value Proposition Analysis
BMW i7 Advantages
- More standard luxury features than most competitors
- Superior rear-seat comfort and amenities
- Exceptional build quality and materials
- Unique features like the 31.3-inch Theater Screen
- Three years of complimentary charging
BMW i7 Disadvantages
- Higher starting price than Lucid Air and Tesla Model S
- Less range than Lucid Air and Tesla Model S
- Lower fast-charging speeds than some competitors
- No federal tax credit eligibility
- Higher energy consumption than some rivals
While the 2024 BMW i7 Electric cost is higher than some competitors, it offers a unique combination of traditional luxury, cutting-edge technology, and BMW’s renowned driving dynamics. The i7 particularly excels in rear-seat comfort and technology, making it ideal for buyers who are frequently chauffeured or who prioritize passenger experience.
Compare the BMW i7 to Competitors
See how the BMW i7 stacks up against other luxury electric vehicles in detailed side-by-side comparisons.
Long-Term Ownership Costs for the 2024 BMW i7 Electric
When evaluating the 2024 BMW i7 Electric cost, it’s important to consider the total cost of ownership beyond the purchase price. Electric vehicles generally offer savings in certain areas compared to their gasoline counterparts.
Energy Costs vs. Gasoline
The i7’s energy efficiency translates to significant fuel savings compared to the gas-powered 7 Series:
- Average electricity cost: $0.15/kWh nationally
- i7 eDrive50 energy consumption: 374 Wh/mi = approximately $0.056 per mile
- Equivalent gas 7 Series: Approximately $0.18-0.22 per mile (at $4/gallon)
- Potential annual savings: $1,200-$1,600 for 12,000 miles of driving
Maintenance Savings
Electric vehicles typically require less maintenance than internal combustion engines:
- No oil changes or transmission service
- Reduced brake wear due to regenerative braking
- Fewer moving parts that can fail
- Complimentary maintenance for first 3 years/36,000 miles
Insurance and Depreciation
Some ownership costs may be higher for the i7 compared to conventional vehicles:
- Insurance premiums typically 10-15% higher than comparable gas vehicles
- Luxury EVs historically experience faster depreciation in early years
- Battery replacement costs (though covered under 8-year/100,000-mile warranty)
While the initial 2024 BMW i7 Electric cost is substantial, the vehicle may offer long-term savings through reduced energy and maintenance costs, particularly for high-mileage drivers who can take full advantage of the complimentary charging program.
Shopping Tools and Resources
To help you navigate the 2024 BMW i7 Electric cost and purchasing process, several tools and resources are available to assist potential buyers.
Value Your Trade-In
Get an estimate of your current vehicle’s value to help offset the cost of your new BMW i7.
Insurance Marketplace
Compare insurance quotes from multiple providers to find the best coverage for your new luxury EV.
Financing Calculator
Estimate your monthly payments based on purchase price, down payment, and term length.
Schedule a Test Drive
Experience the 2024 BMW i7 Electric in person at your local BMW dealership.
Is the 2024 BMW i7 Electric Worth the Cost?
The 2024 BMW i7 Electric cost represents a significant investment, starting at $106,695 for the base eDrive50 and reaching over $185,000 for a fully-equipped M70. However, this pricing is competitive within the ultra-luxury electric sedan segment, especially considering the vehicle’s combination of performance, technology, and comfort.
For buyers seeking the pinnacle of electric luxury, the i7 delivers with its whisper-quiet cabin, cutting-edge technology, and impressive performance. The expanded lineup for 2024 offers more choices to match different priorities and budgets within the luxury EV segment.
While the i7 doesn’t qualify for federal tax incentives, its long-term ownership benefits, including complimentary charging and reduced maintenance costs, help offset the initial investment. For those who value the combination of sustainability, luxury, and the BMW driving experience, the i7 represents the brand’s most sophisticated electric offering to date.
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