After the new shared front wheel drive platform between Mercedes and BMW fell through, and the Mercedes B-Class Proto allready in latter stages of development.
BMW have shown us the replacement for the current 1 series, which will be promoted to the 2 series moniker.
The BMW FAST, as it has been named internally, is based on the new UKL1 platform and is expected to come in front-wheel drive and rumour has it four-wheel drive form (HYBRID?).
The new model is set to rival the likes of the Mercedes-Benz A-Class/B-Class as well as the Audi A3.
The BMW FAST will hit the streets sometime in 2013.