Second generation BMW 1 Series (F20)
While the car still remains in the engineering prototype phase, plans for the car have already been laid out and seem to be the most ambitious for any BMW car ever.
According to BMW insider scott26, plans are laid down for a host of variants that include not only the traditional 3-door/5-door hatchbacks , coupes and convertibles  but also:
- Supersport edition -- Basicly a BMW 1-series M variant, designed by them but without the M badge. 
- Touring model
- PAS type GT model (along the lines of the 5 series GT)
- Sports Activity Coupe (X2 -- along the lines of the X6)
- Roadster (Z2)
- Shooting Brake
While many of these cars would not be marketed as the same as the 1-series, they are built upon the same platform and being engineered simultaneously so to speak. Its not clear which of these models would get axed or approved, but it is ambitious nevertheless.
The 1-series might shape up to be one of the most important cars in the BMW lineup!
Photos of the test mule are here: http://www.1addicts.com/forums/showthread.php?t=267159