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That "photo" is obviously a fake, but Tom Salkowsky, US BMW M Brand Manager, hinted that an M7 could be a real possibility on more than one occassion. He seems to want one, noting that the chassis is the best candidate to date for an M7. And when asked how much power it might have, he said that the 760Li already has 400 hp, so it would have to be substantially more than that!
 
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