Honda has announced that it will be unveiling an Open Study Model concept car at the the London Auto Show later this month.

With its swoopy, low-slung design and pointy nose, the OSM concept bears more than a passing resemblance to Honda’s other convertible - the S2000 - and many are speculating that the two-door drop top show car could be the prelude to an all-new replacement for the aging S2000.

Honda is keeping mum on the OSM’s true purpose and deny that it’s intended to replace their current rear-wheel-drive sportster. However, the timing of the OSM’s debut is mighty convenient should Honda decide to develop it for production: the AP2 S2000 that’s currently on sale is already at the end of its model life and is due for a replacement next year.

Details on running gear are minimal, however Honda’s release mentions that the OSM is designed to be fuel efficient and emit low levels of CO2, so it looks likely that a hybrid powertrain similar to that in Honda’s impending FWD sports hatch, the CR-Z , will be employed by the two-seat roadster. Worryingly though, the similarities may not end there. The proportions of the concept sketch above suggest that the OSM may also be FWD, and therefore definitely not the S2000 successor we’ve all been waiting for. We’ll have to cross our fingers and hope that’s not the case: Honda already have enough arse-draggers to last them a nuclear winter.

So, will we ever see it in Honda showrooms? Honda says no, but spokesman Steve Kirk didn’t rule out a production future for the OSM when he said this:

“At present the OSM is just a design study, a clay model. It is definitely not confirmed for production at the moment.”

We’ll have more for you once the London auto show rolls around on July 22.