What's more, the report specifically states the model will be offered in right-hand-drive markets including Australia.
The MG brand – which was synonymous with small and affordable sports cars throughout much of the 20th century – is yet to build a performance-oriented product under current Chinese SAIC Motor ownership.
The upcoming model will reportedly be heavily based on the 2017 E-Motion concept (shown at the bottom of this story), and is expected to feature a dual-motor all-wheel drive powertrain.
However, the initial concept's butterfly doors are expected to be dropped for mass production, due to their complexity and cost.
MG is reportedly targeting a zero to 100km/h time of below four seconds and a range of 482km.
No pricing details for Australia have not been reported, however it's likely the model will tend closer to its indirect rivals – with the Model 3 priced from $103,994 plus on-road costs – than MG's sole electric vehicle as of writing, the $43,900 drive-away ZS EV.
The Autocar report also suggests the brand is currently developing an entry-level, compact electric hatchback to sit alongside (and eventually succeed) the current, petrol-powered MG 3 city car.
Slated for a late 2021 launch, the model will reportedly offer a range of around 240 kilometres, with prices in the UK to start around the £20,000 (AU$35,600) mark.