Never say never. It could potentially happen.
Up until now, BMW stated outright that it wasn't interested in doing a direct competitor to the likes of the Audi R8, and now the Mercedes-AMG GT, something in the mold of a spiritual successor to the original M car, the famed M1. Thing is, the business case just hasn't been there. BMW wants to make money after all. But, ironically enough, it could be the arrival of the new i sub-brand along with the performance potential of hybrid technology that has BMW reconsidering the possibility of such a car.
Yes, an M-badged car with hybrid power. However, the melding of the i and M brands isn't happening just yet. It may not even happen at all, but the product chief for the M division, Carsten Pries, wouldn't rule anything out. Pries told Autocar that the German automaker has "to let the i brand settle down first. It is still very new to the market and the customer needs to be given some time to understand its proposition. Then, maybe, we can look at doing something." What is for sure is there are no plans whatsoever to turn the i8 into an M-car. Only some of its technologies would be utilized.