BMW's XM performance SUV revealed last September to mark 50 years of BMW M has spawned a more powerful range topper.

It's called the XM Label Red, and its hybrid V-8 powertrain pumps out a heady 738 hp—a figure that makes it the most powerful road-going vehicle ever developed by BMW M. It's also a significant jump up from the standard XM which is rated at 644 hp.

Estimated performance figures for the XM Label Red include a 0-60 mph time of 3.7 seconds and a top speed of 155 mph as standard or 175 mph with the available M Driver’s Package.

Power in all XM variants comes from a plug-in hybrid system incorporating a newly developed twin-turbo 4.4-liter V-8. The engine is mated to a single electric motor integrated with the transmission, in this case an 8-speed automatic, and it drives all four wheels via a rear-biased all-wheel-drive system.

A 19.2-kwh (usable energy) battery pack means around 30 miles of electric range should be possible. In electric mode, peak output is 194 hp and the vehicle produces a sound that BMW hired famous film score composer Hans Zimmer to help create.

In addition to the performance boost, the XM Label Red is further distinguished from the standard XM via model-specific paint, wheels (23-inch standard), and trim. There's no missing the red accents that litter the exterior and cabin. Also unique to the XM Label Red is a dash accent strip finished in a carbon-fiber satin effect with red and blue accents, which are the colors of BMW M. The vehicle also comes with a headliner with a three-dimensional surface.

BMW also groups a number of performance options as standard, including adaptive dampers, active roll bars, rear-wheel steering, and many of the XM's normally available driver-assist features. Among the driver-assist features is BMW's Highway Assistant, which allows hands-free driving at speeds up to 85 mph on limited-access highways.

The XM Label Red makes its formal debut next week at the 2023 Shanghai auto show. It goes into production in August at BMW Group's plant in Spartanburg, South Carolina, and is expected in showrooms by the fall. Pricing information will be announced closer to the market launch but BMW has previously hinted at a starting price of $185,995. The regular XM is also due at showrooms in the fall and is confirmed to start at $159,995.