According to Inside Line, the bosses at Quattro are "optimistic" about the car's chances. If it does get the official go-ahead, it'll still take two or three years to reach production form, however, meaning a debut in mid-2013 or 2014 at the earliest.
Oddly, the report also says the Quattro's engine will be RS5-based, and that it will also have to be mounted longitudinally in the Quattro's chassis, as opposed to the transverse orientation it sees in the R8 and RS5--except it's mounted longitudinally in both the RS5 and R8. The RS5's 4.2-liter V-8 puts out a heady 444-horsepower, about 36 more than the Quattro Concept's turbo five--but the Quattro would get even more power.
Regardless of the powertrain confusion, the goal of keeping the Quattro light (by modern standards) remains intact. The 3,086-pound goal weight will require exotic materials (read: lots of carbon fiber and aluminum), resulting in an accordingly high price and low sales total, but Audi sees it as a way to express its commitment to "'ultra' lightweight technologies," according to Quattro boss Stephan Reil.
For the full details on the Quattro Concept, check out our preview.