The BMW M1 was originally launched in 1978, representing one of the rare occasions on which this German manufacturer chose to put out a dedicated sports car, which has since become a classic.

It only survived for three years, during which time around 450 were built, which makes it a very rare find and quite a collectors' item if it ever comes up at auction.

Like many classic sports cars, the M1 is subject to constant rumours about a possible rebirth in a modern guise and while BMW has kept quiet on the subject, it seems that a follow-up is almost certainly in the pipeline.

Motor Authority reports that BMW's M division is hard at work on a new sports car, which will follow in the footsteps of the M1, but this time include a hybrid engine, which combines both gas and electric power for a more eco-friendly approach to performance.

This may not sound particularly exciting to those familiar with the old-school M1, but it is indicative of a growing trend toward combining fuel efficiency with high speed. The all-electric roadster supercar from Tesla is an example of this and BMW could make it even more mainstream.