Largely inspired by BMW's supercar, the M1 Homage pays tribute to the Giorgio Giugiaro-original 30 years on.
The Homage concept also takes its cues from the revolutionary BMW Turbo concept by Paul Bracq, which spawned a raft of technical innovations.
"For BMW, heritage is always also a living heritage. Drawing inspiration from your own past and thereby reinventing yourself - that is exactly what the BMW M1 Homage demonstrates in impressive style," explained Dr Klaus Draeger, BMW Group board member for Development.
The Homage as a design study takes a contemporary stance on the M1 and the mid-engined sports car.
It strikes a visual blow too, copying orange and black paintwork first seen on the original M1. For the M1 Homage, Liquid Orange was developed especially and uses a clever balance of colour and depth to highlight the flame surfaces spanning the concept's body.
Also in keeping with the M1 from the 70s, the Homage is adorned with twin propeller logos on its rear. Other borrowed styling cues include air vents in the bonnet, louvres on the rear screen and a black "cutline" dividing the roofline from the body's rear section.
Exterior dimensions are comparable, with only the extended wheelbase indicating a larger passenger cell.
Front-end styling is inspired too. The kidney grille doubles as an aerodynamic and cooling feature, while the new headlamps "disappear" into recessed black slots mimicking the retractable lights seen on the original.
"The BMW M1 Homage clearly manifests the creativity and potential of the BMW Design team. A project such as this is a valuable source of inspiration for our day-to-day work," said Adrian van Hooydonk, Director Design BMW Automobiles of the M1 Homage.
Paying tribute to the BMW Turbo and BMW M1, the M1 Homage is currently being shown at the Concorso d'Eleganza Villa d'Este.