BMW is reportedly prepping an all-electric version of its popular 3 Series sedan to compete with Tesla’s upcoming mainstream Model 3. Company sources reportedly familiar with the automaker’s plans tell German publication Handelsblatt Global that the electric sedan will make its debut at the Munich auto show in September.

The vehicle will feature an electric driving range of at least 400 kilometers (around 250 miles) although that’s likely the NEDC-rated range which means real-world figures could be closer to around 200 miles.

BMW late last year confirmed that it is working on all-electric versions of the BMW X3 luxury crossover and the Mini Cooper. Delivery of those vehicles is still several years out.

Tesla formally introduced its first mainstream vehicle, the Model 3, a little over a year ago. Starting at $35,000, the all-electric sedan has generated an enormous amount of interest and at least 400,000 reservations. As a result, the company's stock has soared over the past year, leading Tesla to become the most valuable automaker in the US (based on market capitalization).

The Model 3 is expected to enter mass production in the coming weeks with the first deliveries to customers to take place later this year.

Handelsblatt Global didn’t provide any hints as to when BMW’s electric Series 3 would go on sale or how much it’d retail for. An entry-level gasoline-powered Series 3, for comparison, starts around $33,500.