Apple will release iOS 7.1 within one week, people familiar with the situation tell MacDailyNews.

iOS 7.1 will contain Apple’s newly-renamed CarPlay (formerly “iOS in the Car”) along with numerous tweaks and refinements to the iOS 7 look, a revamped power off screen, an improved system-wide keyboard, faster iOS animations, improved performance, plugged memory leaks, and more.

Stay tuned…

UPDATE: 10:10am EST: Numerous readers point out that Daring Fireball‘s John Gruber is reporting, “iOS 7.1 should ship any day now” because it is required for Apple to stream the company’s first iTunes Festival in the U.S. which runs March 11-15 at SXSW in Austin.