Jaguar may have just unveiled its updated XKR at the 2009 North American International Auto Show in Detroit, but the XK range won’t be the only performance two-door in Jaguar’s lineup for long. According to a new report, Jaguar is readying a mid-engine sports car to take on Audi’s R8.

Auto Express claims that it has the inside scoop on a new mid-engine Jag, set to debut in just over a year. The new model will take on Audi’s R8 and will beat the company’s F-Type to production. The F-Type will do battle in a lower segment, taking on the likes of Porsche’s Boxster.

Reportedly dubbed the XE, the new car will appear in concept form at the 2010 Geneva Motor Show. The XE will likely use Jaguar’s new 5.0L supercharged V8 mid-ship, marking the brand’s first mid-engine car since the XJ220 launched in 1991.

Design-wise, the XE is expected to take Jaguar’s new design language even farther, erasing virtually all ties with the current XJ.

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