According to British magazine Auto Express VW's Boxster competitor will be based on the Concept R show car, which was unveiled at the 2003 Frankfurt Motor Show.
Auto Express reports it will be one of 25 VW newcomers to go on sale in the next 5 years.
This VW roadster will be mid-engined and feature a rear-wheeldrive layout.
It will probably get VW's 185 kW 3.2-litre V6 FSI engine, which will enable the two-seater to rocket from 0-100 km/h in about 5 seconds.
Auto Express also claims that a 125 kW 2-litre turbodiesel model will be available when sales kick off in 2009.