Remember the Concept 1-Series tii from the 2007 Tokyo Show? Ever since BMW wheeled out that racing striped white 1-Series Coupe, fans have been waiting for a performance flagship from the M division. Everyone has been talking about the pocket rocket ever since, and while it could be one of those “open secrets” BMW has never went on the record to confirm the “M1”, until now that is.

BMW M GmbH Managing Director Dr Kay Segler, in an interview with German media Auto News, revealed that the company plans to release an M-variant of the 1-Series Coupe which will debut in the second quarter of 2011. That will be before the F10 M5, which will surface in the second half of the year. However, the hottest 1 will not be called M1, the name of Giugiaro designed mid-engined sports car from the late 70s, of which only 456 units were made.

The current highest powered 1-Series Coupe is the 135i with 302 bhp and 400 Nm from its twin-turbo straight-six engine. It’s good for 0-100 km/h in 5.4 seconds. If the M tuned 1-Series improves significantly on these figures, it may not be wise for M3 owners to taunt the smaller car.