The exciting piece of news is that the car would receive an N20 engine modified by BMW M. Expect it to have similar output to the Mercedes 2.0 liter turbo motor that AMG is planning to get 340+ horses out of. If Audi brings the A3 sedan to market it is expected to sport the TT-RS 2.5 liter inline-5 turbo motor with close to 400 horsepower. Either way, this is a new entry level performance segment that is already heating up.
Will BMW build this new 1M or M1? Who knows, but Mercedes-Benz will have the CLA45 AMG on the market relatively soon. Hopefully BMW gives the model the green light as a real M car based on the 1-Series would be great to have. Not to mention it would look a whole lot better than the current M135i hatchback and be more fun to drive. That is, unless they go with front wheel drive which simply is not M.