A source from BMW said that the sports version of the 135i will bear the name 135is, not M1. The model is expected to begin this autumn. As you know, the Motorsport division of BMW is working on a sports version of the 1-Series coupe. It will be turbocharged and is based on the 135i. [...]

From spring 2010, those from BMW will replace the N54 engine from BMW 135i with the new N55 that develops 300 hp and 406 Nm. BMW 135i will get a new engine, N55B30, which will replace the current N54B30. The engine started on the new 5-Series GT, 535i version, and will be also available on [...]