735-HP BMW XM Label Red Registered for 2023 Pikes Peak Hill Climb

The 2023 BMW XM Label Red is now registered for an exhibition run at this year’s Pikes Peak International Hill Climb.Matt Mullins, chief driving instructor at BMW’s Performance Driving School, is set to drive the mighty XM.Starting at $185,995, the XM Label Red is a 735-hp plug-in-hybrid SUV that’s slated to go on sale later this year.

The 2023 Pikes Peak International Hill Climb is still several months away, but that doesn’t mean we can’t get a little excited about it. The 101st running of the event will take place on June 25, and the organizers have released a preliminary list of 74 entries. While the final roster of competitors won’t be finalized until closer to the event, one entry in particular caught our eye among the already exciting list: The 735-hp BMW XM Label Red.

That’s right. BMW has made preliminary plans for the mightiest version of its upcoming plug-in-hybrid SUV to perform an exhibition run this year at Pikes Peak. Matt Mullins will drive the Label Red, marking his first Pikes Peak. Mullins currently serves as the chief driving instructor for the BMW Performance Driving School. He’s set to wear number 735, likely a nod to the Label Red’s power figures. Unfortunately, it looks like the XM won’t be partaking in a gung-ho time-attack—that’d surely be exciting to see.

A PHEV for Pikes Peak

Normally, a plug-in-hybrid SUV isn’t the first thing that comes to mind when thinking of exciting hill-climb vehicles. However, the XM is a more performance-minded machine than its body style and powertrain might suggest.

The standard XM produces 644 horsepower and 590 pound-feet of torque. Those figures certainly befit an M-badged BMW, and that’s not even the mightiest version. That title goes to the limited-edition Label Red, which has 735 horsepower and 735 pound-feet of torque. That will make it the most powerful BMW when it goes into production.

When the regular 2023 XM goes on sale this spring, and the Label Red follows later this year, the former will start at $159,995 and the latter will start at $185,995.

A Preliminary Entry

The few images BMW has already released of the XM have received a polarizing reception. Our staff here at Car and Driver is also split on the looks, though the majority seems to agree it’s not a pretty thing. On the Label Red, the regular model’s gold trim is replaced with red trim. The result sort of resembles a lipstick-on-a-pig situation.

When we asked about the decision to bring the XM Label Red to Pikes Peak, a BMW spokesperson confirmed that the company submitted a preliminary entry in anticipation of the approaching registration deadline. However, we were also told it has not yet made a final decision on whether or not the XM will participate.

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