Currently in its third season, the FIA Formula E championship has already seen the likes of Citroen, Jaguar and Renault make manufacturer's entries, with BMW the latest major automaker to join the electric racing series.
This adds to the existing partnership BMW has had with the series since its first season, with its electrified 'i' models - the i3 and i8 - being used as the official vehicles at each Formula E event.
"Since its inaugural season, Formula E has enjoyed rapid development and is now regarded as a high-level racing series," said BMW Motorsport director, Jens Marquardt.
"BMW i has contributed actively as Official Vehicle Partner from the word go and has left its mark on the series."
"Planning is underway to compete with a works team in season 5," he added.
Marquardt also confirmed the company's motorsport team in Munich has already commenced work on its own Formula E powertrain.
"We still have a lot of work to do, but we have taken the first steps," he said.
"If the series continues with this positive development, we want to be perfectly prepared for the potential works entry in season 5."