The first of BMW's Neue Klasse electric cars will be the next-generation of iX3. It will be sold alongside the next generation of BMW X3 (G45), though both cars will have different chassis. It has been speculated that BMW will release a performance version of the iX3, to be called the iX3 M.
There's no word on power or performance, but it's likely to have more power than the current X3 M, just with an electric powertrain. Since BMW wants to start pushing high-performance electric vehicles, it likely doesn't want to distract from that with an internal combustion version. So, as report claims, rather than have a gas-powered X3 M fight for sales with an electric iX3 M, BMW might feel it's best to just sell the latter.
We can't say for certain when this will happen, as we've only heard rumors. However, it's unlikely that the iX3 M will be released before 2026-2027. That's about the right timeline for an M version of the iX3. The Neue Klasse chassis is right around the corner, and will debut after 2025, with cars potentially being sold as 2026 model years. If that's the case, any future M versions should be a year or two afterward, as per usual.
Source: BMW Blog