Audi confirmed the R5 ! image

According to CarMagazine, VW’s MIMO platform has been approved at last – paving the way for a trio of sports cars from Audi, Porsche and VW.
Based on this platform, Audi is planning to launch a new mid engine sports car – the Audi R5!
The Audi R5 will be based most probably on the Audi E-tron Spyder concept car. Both coupe and convertible models will be produced.

The new Audi R5 will measure 3.9 meters in length, or roughly the same as a Lotus Exige. Being super-compact in dimensions means that weight should be kept low, and that is a definite advantage. Power will come from an electric motor, thus a hybrid version is a definite possibility. However, most probably first Audi R5 will be equipped with the 2.5-liter turbo engine from the TT-RS.

audi_etron_concept_10

Mimo stands for Mittelmotor, hinting at its mid-engined roots. Porsche will lead much of the platform development, with its experience in mid- and rear-engined applications.
The Audi R5 will likely launch sometime in 2014.