We give you the lowdown on new rumors about the Audi E1, including petrol, diesel, electric, and possible hybrid models.

The rumor-mill is chattering about a potential new Audi model. The Audi E1, seen in these renderings from our archive, would share the same platform as the VW up!

AutoExpress claims the car would be slotted below the Audi A1, and come in several different variants. Choices could include petrol and diesel to compliment the enticing all electric option. If VW were to go to production with a plug-in hybrid based on the VW space up! blue, it would not be surprising to see an E1 hybrid as well. Engines could include a 600cc two-cylinder turbo, and a 1.2-litre three-cylinder.

As part of the "New Small Family" of vehicles, the Audi E1 would be built at Volkswagen's Slovakia plant. The E1 would be priced around €13,500. Not such a bad price considering you might get up to 94mpg in this car. With those numbers, the 2+1 car will be looking to compete with the Smart electric ForTwo and the Fiat 500 hybrid, while still keeping some space for luggage.

With Audi's typical luxury inclusions, the company may have a leg-up on its rivals. The car will keep many of Audi's stereotypical looks, including the mesh grille, alloy wheels, and the big front badge. LEDs in the front and rear, and the new handheld mobile device Audi recently showed off. The touchscreen device includes satellite navigation, MP3 player, and phone. It slots into the center console, and also replaces the key.

Lithium-polymer batteries would be available in the electric, and could be seen if there is a hybrid as well. If it does make it to market, the Audi E1 could hit showroom floors in 2011.

New Audi E1 Rumours Emerge