Toyota has been whispering about the return of the MR2 for years, but now the volume knob has been turned just loud enough to make enthusiasts lean in. The latest provocation comes courtesy of a 29-second Gazoo Racing video that feels less like a marketing clip and more like a knowing wink. In it, Toyota chairman Akio Toyoda casually mentions a new mid-engined, two-seat sports car he wants ready for the Tokyo Auto Salon. Subtle? Not really. Effective? Absolutely.
If there’s one executive in the global auto industry who’s earned the benefit of the doubt when it comes to sports cars, it’s Toyoda. During his tenure as Toyota president, he green-lit everything from the Lexus LFA to the GT86/GR86 twins and revived the Supra nameplate. He’s also not above getting his hands dirty—or upside down—having famously rolled a GR Yaris rally car during testing under his “Morizo” racing alias. When Toyoda hints at a mid-engine project, it’s worth paying attention.
The breadcrumbs point squarely toward an MR2 revival, likely wearing Gazoo Racing badges. Toyota trademarked the name “GR MR2” in 2025, along with “GR MR-S,” a nod to the name used for the MR2 in Japan. That alone would be enough to stir the pot, but Toyota has been unusually open about the hardware that could underpin this car.
At last year’s Tokyo Auto Salon, Toyota confirmed that its future mid-engined sports car would abandon earlier plans for an all-electric layout—previewed by the FT-Se concept—in favor of a new turbocharged four-cylinder gasoline engine. In an era when Porsche, Alpine, and Lotus are all marching toward electric sports cars, Toyota is zagging the other way. For purists, that’s the sound of relief.
The engine in question is known internally as the G20E, an all-new turbo four first seen bolted into the mid-engined GR Yaris M Concept. Toyota says it will be more powerful and more efficient than the current 2.4-liter turbo used in various Toyota and Lexus models, while also being about 10 percent smaller. That’s good news for packaging, especially when you’re stuffing an engine behind the seats.
Official output figures haven’t been released, but expectations are already set. A baseline around 300 horsepower seems plausible, with higher-output versions pushing toward 400 horses. Toyota has even suggested that motorsport applications could see as much as 500 horsepower, though emissions regulations will likely keep road cars well below that ceiling—unless hybrid assistance enters the chat. Given Toyota’s deep bench in hybrid tech, that door is very much open for the future.
Crucially, Toyota is developing this engine the hard way: on the track. Prototypes of the GR Yaris M Concept were slated to compete in Japan’s Super Taikyu endurance series, echoing the company’s Nürburgring development program for the Lexus LFA. Early hiccups delayed the racing debut, but the philosophy remains clear—learn in competition, then bring the lessons to the street.
Power is expected to be routed through an eight-speed automatic transmission developed by Gazoo Racing, already seen in the GR Yaris and GR Corolla abroad, as well as the Lexus LBX Morizo RR. Purists will pine for a manual, but Toyota’s recent automatics have proven sharp enough to blunt most complaints.
Chassis details remain under wraps, but a mixed-metal structure using high-strength steel and aluminum is likely, balancing weight, rigidity, and cost. More intriguing is Toyota’s suggestion that the car could feature all-wheel drive. According to GR engineering boss Naohiko Saito, early testing showed that an AWD, mid-engine layout offered the best performance potential. That’s a departure from traditional MR2 thinking—and a potential game-changer for traction and usability.
Design-wise, expect a modern interpretation rather than a retro throwback. The FT-Se concept provides the roadmap: a low windshield, short nose, and tightly wrapped rear bodywork emphasizing the mid-engine proportions. Think strong rear haunches, sharp surfacing, and body panels stretched taut over the mechanicals. Despite the switch back to combustion power, Toyota doesn’t expect to rely on huge side intakes; airflow is likely managed from the front and underbody, as seen on the GR Yaris M Concept.
At the back, slim LED lighting, an aggressive diffuser, and a subtle ducktail spoiler should make the cut, with optional Gazoo Racing aero bits—wings, flicks, and the like—for buyers who want to lean harder into the track-day aesthetic.
Inside, the formula is refreshingly old-school. Two seats. Good visibility. A low scuttle. A driver-focused cockpit with minimal distractions and compact digital displays. Think Lotus or Porsche in philosophy, not a rolling tech demo.
Toyota sold the MR2 for nearly three decades, and the name still carries weight with enthusiasts who remember lightness, balance, and accessibility. If this new car delivers on those values—while adding modern power, grip, and Gazoo Racing attitude—it won’t just be a nostalgia play. It’ll be a reminder that Toyota still knows how to build a proper sports car. And judging by that sly 29-second video, they’re enjoying the tease just as much as we are.
Photo: Avarvarii