As per Autocar Uk Article, Volkswagen's new small car won't be called the Up!, it will be called Lupo. The Lupo, a nameplate known throughout Europe until it ceased production in 2005, was VW's small, sub-Polo offering. In its new incarnation, the Lupo will replace the Fox, currently the smallest VW sold.
The power of the Up!/Lupo will also come with a more conventional powertrain layout. The rear underfloor-mounted engine was innovative. The Lupo that goes on sale next summer is expected to be offered with the choice of either a 1.0-liter three-cylinder gas engine putting out 75 horsepower or a 1.2-liter Bluemotion-branded diesel.
The Electric-Up that will supposedly hit our market in 2013 might be coming as an Audi only. The VW Group plans to spread the Up!/Lupo gospel throughout its companies, but the electrified version is being worked on "in partnership with" Audi. Since Audi's has good electric network in the U.S. thanks to its e-tron concepts, and with the price premium electric cars command, we wouldn't be surprised if the electric Lupo initially comes to the U.S. wearing interlocking nose rings.