Here is something to be thankful for this holiday season, BMW is still working on a successor to the BMW M1.

A report form Automobile states that the new car, dubbed M8, is in the pipeline, but is having some problems cutting through corporate brass. The 1 Series M was stated to have the same problems, but was pushed through to the joy of enthusiasts everywhere.

If and when it gets the official green-light, Automobile says it is likely to be based on the ultra-light platform of the BMW i8, saving years of R&D. With Mercedes making the SLS and Audi making the R8, we feel it is finally time for BMW to trhow its hat into the ultra-super-mega-crazy car game with a mid-engined monster.

We can only hope that this new M8 looks as good as the M1 Hommage in the gallery below.

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