M.2 slot bandwidth/compatibility

Hello, im hoping to use the M.2 slot for a custom camera interface card which uses pcie x2 over M.2

Im hoping this will work as the UP Squared's m.2 is the E key which is suppose to carry pcie x2. Can someone confirm this?

Also is pcie x2 referring to 2 lanes of v1 or v2? Im trying to calculate the available bandwidth.

Thanks
Russell