New Toyota MR2: Everything We Know So Far

Rumours of a revived Toyota MR2 have been increasingly brewing over the last few years, to the point that it now seems a new version is more likely than not.
That all started when Toyota stealth-dropped the Sports EV concept in 2021, followed by a closer-to-production-looking FT-Se in 2023.

Nothing is official yet, but here’s everything we know so far about the return of the Midship Runabout 2-seater.

Is anyone helping Toyota develop the new MR2?

For its most recent dedicated sports cars – the GT/GR86 and GR Supra – Toyota has relied on other manufacturers to get things over the line.

In the case of the 86, those cars were effectively designed, built, engineered and powered by Subaru but with Toyota providing the funding. In a not-too-dissimilar vein, as you’ll know, the Supra is pretty much largely a BMW Z4 wearing Toyota bodywork with a little bit of its own engineering work.

Will Toyota need help with the new MR2? It doesn’t sound like it. From what we’ve gathered, it’ll sit on a new platform bespoke to the car and to Toyota. Nothing is confirmed either way at this stage though, so take that thought with a pinch of salt for now.

Will the new Toyota MR2 use an internal combustion engine, or is it electric?

Both electric and ICE versions of the new Toyota MR2 may be on the cards. When the FT-Se was revealed as a concept, Toyota described it as a “high-performance sports [battery electric vehicle] model proposed as one of the options for sports cars in the carbon-neutral era.”

Note that it stated ‘one of the options’. Toyota has long been toying with alternatives to electric and is one of the biggest players in developing methods of hydrogen propulsion. Notably, it’s recently fielded a GR Corolla powered by a hydrogen combustion engine in the Japanese Super Taikyu series, which could be an option down the line.

However, good old petrol is likely to be called upon at launch. Japanese publication Best Car claimed last October that the new MR2 would use the same 1.6-litre turbocharged three-pot as found in the GR Yaris and Corolla.

Since that report, though, Toyota has revealed it’s working on a new 2.0-litre four-cylinder engine, primarily designed to be used in hybrid systems. It’s expected this engine will be adopted by Gazoo Racing though, and once again according to Best Car, it’s now expected this unit will be powering the MR2 as well as a revival of the Celica. Up to 400bhp has been touted.

It also reports that it’ll be available with a six-speed manual gearbox or Toyota’s new eight-speed Direct Automatic Transmission. Another Best Car report in September 2024 suggests that, like the rumoured Celica revival, the engine will be hooked up to a four-wheel drive system.

When is the new Toyota MR2 coming?

Officially, nothing is confirmed, so we can’t say for sure. Various reports have suggested 2026 as a possibility for it, and with one killer blow – it’s likely to be a Japan-exclusive car. Boo and indeed hiss. Let’s hope we’re wrong. 

Hopefully, confirmation either way isn’t far off. In fact, Toyota’s own anime series ‘GRIP’ recently dropped some heavy hints of a swathe of incoming new cars – MR2 included.