Renault Clio Williams

Back in the early '90s, Renault and Williams were dominating Formula One, and their success spilled over into one of the most celebrated hot hatches of all time. And now that the two are getting back together for the 2012 season, rumors are afoot that they'll collaborate on a revival that could prove one very tasty beast indeed.

Keen to avoid simply cashing in on – or cheapening – the name, Renault isn't likely to slap on a new coat of paint and some special badges (much as it did with the Gordini brand) and call it a day. Instead, word on the street is that the new Clio Williams could pack as much as 240 horsepower.

That's significantly more than the current Renaulsport Clio's 197 horses, and comes within striking distance of its big brother, the 247-hp Renaultsport Megane. The package could also include a chassis setup based on the RS Clio Cup, but with the Sachs dampers from the more hardcore 2005 Clio Trophy and the brakes and rolling stock from the Nürburgring-conquering Megane Trophy.

With an all-new Clio coming around the bend next year, the Williams edition could prove the ultimate send-off for one of Europe's favorite hot hatches.