AutoBild's photo is the same used for the header on this site, so nothing new in terms of images. While I would welcome an "M1" based on the 1-series, I can see the article being nothing more than wild speculation at this point.
The solution to BMW's naming conundrum is to call the coupe/convertible the 2-series and name the M version the M2. That way, the non-M coupe can claim historical linkage to the 2002 and the M version won't be confused with the venerable late-70s supercar.
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