Yes, this does look like an Audi A8.  With the obvious out of the way, our spies have captured what we know to be an extremely early Phaeton prototype undergoing testing.  The cues that give this away include a heavily revised front fascia with the Audi rings removed, and BS-prefaced (for Braunschweig) license plates which are indicative of a Volkswagen test vehicle.  It's also being chased by vehicles from Wolfsburg.

VW-Phaeton-mule-5


So what do we know about the upcoming Phaeton?  Well, we've been hearing that the vehicle will hit our shores sometime around 2019, and should ride on the same MLB-Evo as the newly introduced Audi Q7 and the next-generation Audi A8.  At the moment, we have yet to hear anything in terms of power train, but we do know that the vehicle will be constructed using lightweight materials to assist with efficiency and performance.

Check out additional images of the vehicle below.