This is the all-new KTM Adventure with a 1290cc V-twin engine which is expected to produce around 130bhp - 25bhp more than its arch-rival, the BMW R1200GS.
The bike was spotted while undergoing road development in the Canary Islands by keen-eyed MCN reader Colin Crewther and appears to be a very early hand-built prototype.
These are used to set basic engineering parameters and generally precede finished bikes by at least 18 months.
KTM Product Manager Jorg Schuller said: "The bike in the pictures is one of the prototypes KTM is currently developing. As you know, our development centre is working intensively on several projects, and the new Adventure is one of these.
"It is planned to introduce two new Adventure models onto the market in 2013."
For all the info on the new KTM Adventure, pick up a copy of the January 25 issue of MCN, out now.