What's all this about?

It's our first proper look at BMW's all-new, third-generation Z4. Developed alongside the forthcoming Toyota Supra, the German machine will be a two-seat roadster, whereas Toyota will make the Supra as a coupe only. That should ensure some differentiation between two vehicles that'll be very similar mechanically.

OK, so what do we know about the Z4?

It will be revealed at the Pebble Beach Concours d'Elegance today (Aug 23), one year on from the debut of the Concept Z4 at the same place. This year's show car is the range-topping M40i First Edition, finished in Frozen Orange metallic with contrasting BMW Individual High Gloss Shadow Line detailing, bicolour 19-inch light alloy wheels and an Anthracite hood with silver detailing; the hood, by the way, is fully electrically operated.

Right, and what about the performance?

The 3.0-litre turbocharged straight-six petrol engine propels the rear-drive M40i from 0-62mph in 4.6 seconds and on to a 155mph limited top speed. Best quoted economy is 39.8mpg, lowest quoted CO₂ emissions are just 162g/km.

Can the handling match up to the straight-line go?

According to BMW, most emphatically. The driver sits low and centrally in a roadster with 50:50 front-to-rear weight distribution, wide tracks and a short wheelbase. Sports suspension with electronically-controlled dampers is fitted as standard to the M40i, while it also benefits from an electronic rear limited-slip diff and M Sport brakes. Inside the driver-focused cockpit, equipment will include a BMW Head-Up Display (marking a first for BMW roadsters), Vernasca black leather with contrast stitching, a Harman Kardon Surround Sound System, ambient interior lighting and a BMW Live Cockpit Professional connectivity set-up.

What do you think of the looks?

We remain to be convinced, but a lot of BMW products have recently not been that jaw-dropping in photos, only to hit home harder once you see them in the metal. So while we currently think the Mk3 Z4 lacks the crisp elegance of an early Bangle Z4, or the organic lines of the second-generation roadster, there are some interesting details to drink in - like the mesh-pattern kidney grilles, the breathers on the front wheel arches and the dramatic side strakes of the body.

When will we get to see the Z4 on the road?

Probably in Q1 of 2019. BMW will reveal more details on other models in the range on September 19, ahead of the car's European debut at the Paris Motor Show in October. Sales are slated to commence in spring next year.