Yep, that is Beast Wars alright. Season 1, ep 1.
The CGI was nice but a bit rough in some places but they also laid the seeds for an interesting story arc.
What planet were they on? What time period? It sure looked like Earth but the continents weren't separated into 7 yet and there were 2 moons.
Answers would come as the series progressed, though not all were officially answered by the series end such as the origins of the Vok and origins of Tarantulas.
I wasn't sure about it at first but by the end, I thought it was a great show. The CGI definitely gets better as the series goes. I remember they point our on the DVD that in season 1 no one casts shadows, but they were able to correct that by season 2. They didn't have enough processing power at first, I guess.
I wasn't as kind to the sequel series Beast Machines, although it did have great animation. The character designs for the Maximals were ugly though, and that can't be entirely blamed on the toys since the tv designs were a bit different. I did like that they stopped using stock explosions like Beast Wars and started animating their own explosions.