BMW M President Dr Friedrich Nitschke has downplayed the possibility of an X4 M but our spies have snapped photos of appears to be an M Performance variant.

Tentatively dubbed the X4 M40i, the model features a familiar appearance but is distinguished by a sporty dual exhaust system with one tailpipe on each side. This doesn't sound too unusual until you consider the X4 xDRIVE35i has a dual exhaust system with both tailpipes on the left side. This suggests the model could be a high-performance variant but the lack of traditional M styling cues implies this isn't a hardcore X4 M.

There's no word on what will power the model but it could use an upgraded 3.0-liter TwinPower Turbo six-cylinder engine.  There is also a possibility that it could use a diesel engine but nothing is official as of yet.

Gallery: High performance BMW X4 spied, could be an M Performance model

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