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This somehow slipped by me, but BMW has released its concept of their new M1 Homage Concept. Yes, this happened a couple weeks back but whatever guy — this ain’t Jalopnik. We’ve got imminent Black Holes and Cocaine energy drinks to talk about! Anywho, god I loved this car back in the 80s — my brother had a huge poster of the original in Niki Lauda’s Marlboro/MacLaren colorscape, and I’ve been in love with it since. Designed by the legendary Giorgetto Giugiaro, the car was and is once again a vision of automotive perfection. Well done, Beemerfolk, well done.

[More Pics after the Jump]

Originally released between 1978 and 81, the M1 was essentially a race car retrofitted to be street legal, in order to allow BMW to enter it in the “production” car races (hence, it is their first and only mid-engined car). But only 456 production M1s were ever built, making it one of the rarest BMW models. Still, it’s one of those cars whose legend outweighs the reality of its success. Plans of the concept’s actual production have not been announced…

UPDATE: In the new issue of Automobile magazine they’re touting the new M1 as BMW’s Audi R8 killer. I call bullshit on that. First of all, the R8 is redonkulous. Second, it is real. How can a make-believe car kill a real car? Pssshhhh…

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The original design was so sublime and instantly classic, that Andy Warhol did his own remix:

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