Toyota is working on the new MR2, which is set to become a fierce GR

After the debut of the GR GT (Link to the presentation of the street and GT3 version) just a few days ago, Toyota isn’t wasting any time. Japan is already pushing forward with its next projects.

And for those dreaming of a compact, agile sports car, the return of the new MR2 might be exactly what you’re hoping for. The small sport icon, famous worldwide for its agility and go-kart-like handling, could be on its way back, according to recent rumors.

How? Word is that Toyota is working on a far more extreme engine than in the past: a 2.0-liter turbocharged petrol unit producing around 300 horsepower. This same engine was tested some time ago in a Yaris, the little beast that’s been giving the entire rally pack a hard time in the World Rally Championship.

The new Toyota GR badge is expected to come before the MR2/S name.

Toyota has also dropped a few hints about what the new MR2 might be called. The G R badge, now appearing on more and more of the brand’s performance models, was officially registered in August this year: GR MR2 in Japan and MR-S in Australia. Using different names in different markets is nothing new for Japanese manufacturers. It’s their way of making similar products feel unique depending on where they’re sold.

But honestly, the name doesn’t matter much. What matters is what’s under the skin. And if the base is a 2.0-liter turbo with more than 300 horsepower, ideally paired with a proper manual gearbox, we can already be satisfied. Hybrid? Sure, as long as it doesn’t just add useless weight. If it gives extra low-end torque and more punch, we’re all for it.

History of the three generations over time

But do you remember the past MR2 generations? The first one launched in 1984, built from a project that dated back to 1976. The mission was clear: a small, lightweight, agile sports car. And they absolutely nailed it. Over the years, the MR2 evolved through three generations, with engines ranging from a tiny 1.3-liter petrol unit to the 1.8-liter of the final version, which delivered 140 horsepower.

If today’s rumors become reality, the new MR2 would see an increase in power of more than 100% compared to the last model. No wonder we’re already rubbing our hands together.

Come on, Toyota—give us another little gem to thrash… with love!