BMW will make its most serious stab to date at electrification for the business-fleet market with the launch of the plug-in hybrid 530e iPerformance sedan in March.

A hybrid version of its most successful business car joins the 530-range lineup targeting fleets focused on fuel efficiency and carbon emissions.

Its combination of a 2.0L 4-cyl. gasoline engine with an electric motor will generate a total system output of 252 hp, enough to accelerate 0-62 mph (100-km) in 6.2 seconds on the way to a 146 mph (235 km/h) top speed.

Performance notwithstanding, the car claims combined fuel consumption of 117.6 mpg (2.0 L/100 km) and an electric-only range of 29 miles (47 km) at a maximum speed of 87 mph (140 km) and an overall range of more than 400 miles (640 km) between refueling stops. It also claims to be the most efficient BMW 5-Series ever at 46 g/km of carbon dioxide.

The electric motor and combustion engine deliver power to the sedan’s rear wheels via a standard 8-speed Steptronic transmission. Positioning the electric motor upstream from the transmission also allows the gearbox’s ratios to be used in all-electric mode. This eliminates the need for a torque converter, reducing the vehicle’s overall weight.

The high-voltage battery pack, consisting of lithium-ion cells with a total capacity of 9.2 kWh, is placed in a space-saving location underneath the rear seat and includes efficient refrigerant cooling with a highly integrated low-temperature circuit. This arrangement allows 410L (14.4 cu.-ft.) of trunk capacity and a flat load compartment floor.

The 530e’s battery can be fully charged in less than five hours using a standard domestic power socket and in less than three hours if it is connected to a BMW i Wallbox with 3.7 kW charging capacity.

Pricing in the U.K starts at £43,985 ($54,411).