Thanks to one of the plucky characters who haunt the Nurburgring with video cameras, we've caught a glimpse of the new BMW M1 under development.
The visibly beefed-up 1 Series coupe is said to be packing a 350bhp version of BMW's glorious twin-turbocharged six-cylinder engine.
The M1 will almost certainly be the cheapest M division car when it goes on sale in the UK some time in 2011, with a price tag of around £38,000.
The 1 Series in the video has the usual test mule bodywork, but the production car will get the flared wheel arches, chunky sills and quad exhaust we've come to expect from an M car.
Underneath the M1 should get uprated springs and dampers, along with the obligatory lightweight 18-inch alloys, but the basic 1 Series coupe suspension set-up is expected to remain the same.
The current small performance BMW – the 135i M Sport – is a firm favourite in the Autoblog office so we can't wait for the full-blooded M car to arrive.
Click on the video to see it for yourself.