I think you are close. It appears to be a car produced by/for "Valek" of Czech Republic back in the day. Seems to be some sort of loose BMW affiliation, like a tuner or some such because they have lots of BMWs on their site.
Speaking of which, here's the link.
http://www.valek-group.com/news.html#
Click the link for more unreadable info. However, in there you'll see words like alpina motor and 2002.
Speculation on the Porsche board was it was a butchered 2002, which clearly it's not. But it's certainly not a 911, even though the design origin is obvious.
PS-this new FAQin format is weird!