New Toyota MR2: Everything We Know So Far

It seems almost certain now that the world will be blessed with the arrival of a new Toyota MR2 in the coming years. Rumours have been brewing ever since the stealthy reveal of the Sports EV concept back in 2021, followed up by the closer-to-production-looking FT-Se in 2023.

We’re yet to get official confirmation from Toyota itself, but the manufacturer has teased us with so many signs of a new MR2. Here’s everything we know so far about the return of Midship Runabout 2-seater.

Will anyone else help develop the new Toyota MR2?

Although Toyota has relied on other manufacturers to help get its recent sports cars across the line – see the Subaru-developed GR86 and BMW Z4-based Supra – it appears it won’t be taking that direction this time around.

Reports have suggested that it’ll sit on a platform bespoke to the car and developed wholesale by Toyota. It could well borrow bits from other GR cars though, and our closest official tease yet is the GR Yaris M Concept.

Although that car had the body of the Yaris, it housed a new mid-mounted 2.0-litre four-cylinder engine (more on that in a bit), which is something that car very much does not have normally. That prototype will be heading to Japan’s Super Taikyu series to ‘further explore the potential of the GR Yaris’, though it seems there’s more to it than that.

As reported by CarScoops in January, during a Toyota press conference at the Auto Salon, Hiroaki Ishiura, a driver for Toyota’s Rookie Racing squad, reportedly said of the GR Yaris M: “I think it’s going to be an MR-something.”

That was only fuelled further by chairman Akio Toyoda, who said when asked if the Yaris could morph into a production model: “That’s our hope and we can all imagine various things at this moment – there is no official announcement yet.”

Will the new Toyota MR2 be electric, hybrid or pure petrol-powered?

We had expected a potential new Toyota MR2 to arrive as an electric car when the FT-Se was revealed, with some press blurb describing the concept as a ‘High-performance sports [battery electric vehicle] model proposed as one of the options for sports cars in the carbon-neutral era.’

However, in the two years since, Toyota has been working away on a brand-new 2.0-litre, four-cylinder engine that is set for use in future GR cars. That’s the one hiding away in the back of the GR Yaris M.

It’s been designed to support both mild- and full-hybrid setups, suggesting the MR2 would have some form of electrification when it arrives. It’s also expected to find its way into the upcoming new Celica, with Japanese publication Best Car reporting it could have up to 400bhp in that car. Something similar for the MR2 may not be out of the question, but we can only speculate for the time being.

It’s expected the new MR2 will use a four-wheel drive system with that engine, plus the choice of a six-speed manual or eight-speed torque converter gearbox. Don’t be put off by the latter – we’ve tried it in the GR Yaris, and it’s very, very good.

When is the new Toyota MR2 coming?

Officially, nothing has been confirmed – so we can’t say for sure. However, various reports have touted that 2026 could be the year of the new Toyota MR2. We’ll take bets on it arriving before GTA VI.

Hopefully, we’ll know for sure later this year. Given a few months have passed since Toyota teased an MR2 revival alongside some other big names in its in-house ‘GRIP’ anime, it could be sooner than later…