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Okay, so maybe this isn't much in the way of confirmation, but BMW M division president Friedrich Nitschke told Car and Driver that the company was "considering" building an M Performance version of the 7-Series. While that's not quite an M7, it's close.
Remember, M Performance is the new quasi-M car line that BMW has created to offer a higher performance version of its vehicles to slot between the standard models and the full-blown M cars. M Performance will also allow BMW to create performance diesel and all-wheel-drive models without sullying the M badge.
Of course, enthusiasts looking for a full-size BMW performance sedan can already have an Alpina B7 like the one pictured above, but there's something alluring about a real M-badged 7-Series. Given that BMW has already M-ed the X6, it only seems fair that the 7-Series gets some love too, even if it's just in M Performance form.