The engineering trust formed the collective brain behind the Veritas RSIII, a radical retro roadster powered by BMW's celebrated V10 engine, and has long been rumored to be following up with a coupe to join it. And the design, at least, for that model appears to be coming along nicely.
Since the M5's V10 has now been discontinued, Veritas has, like Wiesmann, had to work around its replacement: the 4.4-liter twin-turbo V8 that powers the X5 M and X6 M and which will drive the new M5, as well. Since the turbo-eight reportedly requires a lot more cooling than the ten-pot it replaces, the design's aerodynamics had to be thoroughly rethought.
That's about all there is at present, but we'll expect to hear more as the project progresses. In the meantime, head over to CarAdvice for a closer look.