Today is a full news day for BMW fans and it starts with new updates on the BMW M2, followed later by a debut of the 3 Series Facelift.

As we exclusively announced two weeks ago, the new BMW M2 will be powered by the N55 TwinScroll turbocharged engine with some components from the S55 engine. One of them is the oil pump found in the M-developed engine. The power output is 365 horsepower and 343 lb-ft of torque. Now 2addicts reports that the engine will feature an overboost function just like the 1M, good for 25 lb-ft of torque.

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We can also finally release what we learned in the last few weeks. The launch color palette will be limited. Our sources couldn’t say how many and what colors will be added in the future, but at the launch, the M2 customers will get to pick from four paint jobs: Long Beach Blue, Alpine White, Mineral Grey and Black Sapphire. The official color is said to be Long Beach Blue so expect to see the first marketing photos sporting the beautiful blue shade.

BMW M2 enters production in November with first units being delivered in early 2016.