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If you’ve got a good engine, you might as well find as many ways to use it as possible. Fresh off its starring roles in the GR Yaris and the GR Corolla, Toyota’s wild G16E-GTS three-cylinder turbocharged engine could potentially find its way into the revival of the much-loved and missed, mid-engine MR2.

Rumors of the MR2’s much-anticipated comeback have been circulating for what feels like an eternity. Most recently, reports even suggested that Toyota might be in the process of developing a mid-engine micro sports car powered by a 1.0-liter Suzuki engine.

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While this sounds like a rival to the Daihatsu Copen — which, incidentally, is set to re-emerge as a conceptual rival to the Mazda MX-5 at the Japan Mobility Show later this month — a new report from Best Car gives new life to the rumors surrounding a proper followup for the MR2. In this case, a “reliable source” told the Japanese publication that the vehicle will be powered exclusively by an internal combustion engine, not a hybrid, as has been suggested for the smaller mid-engine vehicle mentioned earlier.

Read: Toyota’s Rumored Mid-Engined Hybrid Sports Car Could Be Built With Suzuki And Daihatsu

 New Toyota MR2 Rumored With GR Corolla Turbo Engine, But Will We Get It?
The 3-cylinder turbo engine is currently used in the GR Corolla and GR Yaris

Toyota’s 1.6-liter three-cylinder engine makes 300 hp (224 kW/304 PS) and 273 lb-ft (370 Nm) of torque in the GR Corolla, which would be plenty for a small, mid-engine sports car. Unlike the hatchbacks, it is suggested that the engine would exclusively power the MR2’s rear wheels.

Although speculations about the return of the MR2 may appear overly optimistic, they aren’t entirely unfounded. In 2021, Toyota unveiled an impressive looking concept featuring GR badging, showcasing the distinctive proportions reminiscent of a mid-engine sports car.

Illustrations Carscoops

Automakers, particularly those from Japan, are also cashing on the wave of ’90s nostalgia. Acura recently resurrected the Integra nameplate, while Toyota revived the Supra, proving that there is an appetite for retro sports cars among millennials who have some money to spend.

Limited to Japan only?

However, unlike those vehicles, the magazine suggests that the MR2 may have a limited release exclusively in the Japanese market—though this information should be taken with a grain of salt. If Toyota is indeed planning to revive this iconic nameplate, restricting it to Japanese enthusiasts alone would not only be a cruel blow to fans in other parts of the world, but also present a significant financial challenge, given the global demand it could potentially generate.

Note: The illustrations in this story are not officially endorsed by Toyota.

Three generations of the Toyota MR2 built from 1984 to 2007