Stunning! It's exactly what it's supposed to be - a modern interpretation of the M1, not a production-ready model. With that in mind, it's very well done. Design exercises like this are a great way to see elements of future production cars.
BTW - one item that strikes me odd is the use of Toyo tires. Concept vehiclies usually have a custom designed (i.e., fashion) tire by the makers supplier. I'd expect to see Conti's, Bridgestones, or Michelins. Maybe this is also a peek into the future for BMW?
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