Ever since the M1 Homage concept was shown at the Villa D'Este Concours in 2008, the rumor mongerers have been swinging for the fences. Now there appears to be a veneer of reality surrounding the idea of a reborn M1, though if that's the case, it's still little more than a twinkle in a designer's eye.
At first, the rumors indicated the M1 Homage would be turned into a green supercar with a similar layout. Then in 2009, the BMW Vision EfficientDynamics concept was unveiled, sharing proportions and themes with the M1 Homage (and the original M1) in a radical green take on the supercar. Fast forward to early 2011 and the launch of BMW's i sub-brand, and we have the i8, the production-bound version of the Vision concept.
Now we appear to have come full circle, with talk once again focusing on the M1. This time, it's not green technology that's at the center of the matter, but BMW's M Division. According to information posted to a German car forum, the M1 is currently at the earliest stages of sketching and design. It's little more than an idea.
If the idea gains traction, it could theoretically see the light of day, but not until after 2015. In the mean time, engines, performance, and just about everything else is up in the air. It is said to be a completely new project, however, and not to be based on any current BMW vehicle. It will instead be something completely unique to the M Division--just like the M1.
The project is said to be called "M-one" in part to distinguish it from the original M1 and in part to denote it as "the first of its kind in a generation."
For more details, check out the source at the link below. Judge the authenticity and credibility for yourself. At this point, it sounds like there may well be something afoot, but it's so far from concrete as to be nearly meaningless.