Two designs of 2026 Toyota MR2 GRMN flagship proposed - 320 PS/392 Nm, price closer to Porsche 718

The Toyota MR2 was an affordable gateway to a mid-engine sports car, a layout often associated with Ferraris and the Porsche 718. However, the world’s largest carmaker is looking to revive the mid-engine runabout 2-seater as a limited production flagship sports car.

According to the Japanese automotive publication, Best Car, two design proposals were submitted with the renderings published in its latest issue. One design brings back the iconic rear flying buttresses similar to the AW11 and SW20 generations of the MR2.

The other design is a sleeker shape with an enclosed engine and cabin glasshouse as seen in numerous sports cars designs like the Honda NSX and the Chevrolet Corvette C8.

Whether it’s the more distinctive classic inspiration or the more mainstream approach, the next-gen MR2 is rumoured to be powered by a turbocharged 1.6-litre 3-cylinder engine that is used in both the GR Yaris and the GR Corolla.

According to Best Car, the 3-pot engine could produce at least 320 PS and 392 Nm and sits in the middle. Power will be sent to the rear via a 6-speed manual transmission or an 8-speed GR-DAT automatic transmission which are also found on the updated GR Yaris.

Also read: Harder, sharper and angrier - facelifted 2024 Toyota GR Yaris debuts; 304 PS/400 Nm, 8AT option

Rather than launching an electrified version of the revived MR2, Toyota is rumoured to stick with pure gasoline power but Best Car also reported that development for carbon-neutral fuel use is being studied. The fourth-gen MR2 is planned to be introduced in 2026 and could be given the more exclusive GRMN badge instead of the regular GR one.

Also read: Scoop: Toyota MR2 to be revived as flagship sports car in 2026 - 1.6T 3-pot, 320 PS/392 Nm

GRMN stands for Gazoo Racing, tuned by the Meister of the Nurburgring and it is reserved for limited production conversions of existing models. These include the Century GRMN, iQ GRMN Supercharger, Mark X GRMN, Vitz GRMN, and GRMN Yaris.

The upcoming MR2 would be the first bespoke GRMN model and it will be exclusive with only between 50 to 100 units rumoured to be built. It will also have a high asking price with Best Car estimating between JPY 10 million to 11 million (RM 320k-352k).

For fans of Toyota’s legendary sports car models, the GRMN MR2 could be a swansong to the company’s solely fossil fuel-powered cars as even the Japanese giant isn’t entirely immune to the rise of electrified cars. It could emulate the hype surrounding the Lexus LFA from 14 years ago if the rumours ring true.