Audi has long been rumored to be developing an electric car and many of us concluded that it would be based on the A1 concept that the German automaker recently showed off at the Paris Motor Show. According to Audi board member Peter Schwarzenbauer, the electric car is indeed coming, though it will be based on the Volkswagen up! platform that's destined to carry the Lupo badge when it goes into production. Audi will need to work fast if it's going to catch BMW, its natural rival, which has already begun production of an electric version of the hugely popular MINI Cooper. For the Audi/VW offering, a battery pack will be mounted at the rear of the Lupo's platform, though we still have no indication of what type of battery will be used. What might the new car be named? Not sure, but we do know that A2 is available.