BMW prides itself on having some of the most dynamic and involving vehicles on the market today, but its fleet still lacks a genuine sports car or a true successor for the original M1. Some may argue that BMW already offers the 507hp V10-powered M6 Coupe, but to the purists the M6 is an overweight four-seater GT that compromises performance for comfort.

Instead, BMW is rumored to be working on a new super-sports car to rival Audi’s R8 and Porsche’s 911 with its release scheduled for the end of the decade. According to Germany’s Auto Zeitung, development work is being handled strictly by BMW’s M division with the new model likely to be named the M10. The source also reports that BMW has ruled out building a mid-engined car and instead will go with a front-engine, rear-drive layout.

Powering the M10 will most likely by an upgraded version of the M5/M6 5.0L V10, with power boosted to around the 550hp level, however, a turbocharged version of the 4.0L V8 destined for the new M3 has also been considered.

The key goal of the M10 project is to save weight. Extensive use of carbon-fiber, magnesium and aluminum are to be employed to ensure overall weight is kept below 1,400kg. The styling for the M10 is said to be influenced heavily by the Concept CS, which was displayed recently in Shanghai. The most notable features that should carry over include the oversized kidney grilles, aggressive front bumper and the low roofline.