The Leica T type 701 camera is rumored to be announced this month, most likely on April 24th. I've said many times in the past that the new T model will not be a MFT camera and it will not be based on an existing Panasonic model. The new mirrorless solution from Leica will be an APS-C based interchangeable lens system camera with AF and without a rangefinder (it will probably have an optional EVF). The body will be made in Germany and it will be very solid built with a special new/unique design/production process. Here are the two leaked images from two months ago:
The new T lenses will be made in Asia (most likely by Panasonic in Japan). You can also expect the latest technology to be implemented in the new Leica T: touchscreen, built-in Wi-Fi, etc. Leica will release several new T lenses by the end of the year - both primes and zooms. I believe Leica will also announce a new adapter that will let you use M lenses on the T body.
Price-wise the Leica T will be placed between the X and the M lines - that means that the US price will probably be slightly above $3,000 for camera+lens kit.