So the 101 does seem to relate to 101 years after the Aero was made in 1920. Perhaps this will be named the 'Aero'.

Quote from: https://www.morgan-motor.com/announcement/aero/

Another special Morgan, inspired by Capt. Albert Ball’s specially bodied Grand Prix car, was introduced in 1920. This was called the Aero in recognition of the famous aviator.