It looks like Jaguar may be making a return to the glory days of the early 1990s. Reports have surfaced that the Indian-owned British automaker is in the midst of developing its first mid-engined supercar since the XJ220.

Auto Express says the upcoming super-Jag will make its first public appearance in 12 months time, possibly at the 2010 Geneva Auto Show and possibly sporting an “XE” badge on its rump.

Built around the current XK sports coupe’s platform, Jaguar’s supercar will supposedly feature a modified version of the XF-R’s 375kW 5-litre supercharged V8 engine mounted behind the driver and ahead of the rear axle. Stlying is a well-guarded secret right now, but AE’s sources say to expect a “dramatic silhouette” and an “imposing nose”. Whatever the case, we’re hoping it doesn’t look like the abysmally ugly R-coupe concept shown here.

The mid-engined XE is believed to be targeted straight at the Audi A8’s turf, and will sit at the very top of the Jaguar food chain. If the estimate of a 2010 debut is to be believed, it may also beat the oft-rumoured F-Type to the showroom and will become the first performance Jag to be launched during Tata Motors’ ownership of the marque.

Further details are thin on the ground at the moment, but we’ll keep you posted as further information comes to hand.

[Auto Express]