The 02 is likely to have a lot in common with the Volvo XC40, which rides on the same architecture.
According to the British publication, the Lynk & Co 02 measures a little under 4.5 metres long, making it a little longer than its XC40 cousin.
Compared to the 01, the 02 appears lower and more athletic. Think of it as some kind of '01 coupe'.
Power is said to come from a new plug-in hybrid (PHEV) system matching a three-cylinder turbo petrol engine and seven-speed dual-clutch transmission to an electric motor and battery pack.
Electric-only driving range is reported to be up to 50 miles (80km), which is impressive compared to the current crop of PHEVs on sale today.
The 02 is also likely to get an all-electric variant at the turn of the decade, with reports indicating the Chinese company is targeting an emissionless driving range of around 373 miles (600km).
Lynk & Co is scheduled to launch in the European market around 2019, before making its way to other developed nations like the US - and Australian introduction is unclear at this stage. In China, the larger 01 SUV (above) will be priced from 180,000 RMB ($35,999).
The 02, meanwhile, is slated for an official reveal at the Beijing motor show next April.
MORE: Lynk & Co coverage