It's being reported that a 1.0L mid-engine coupe with 120 hp that weighs as much as the lightest Miata will be coming from Toyota and Suzuki. It's expected to be priced anywhere from $16,500-$21,000 to start.
"The Japanese magazine claims the three domestic automakers are working on an affordable mid-engined Toyota sports car with a turbocharged 1.0-liter engine. The three-pot is said to produce nearly 120 horsepower and 200 Newton-meters (147 pound-feet) of torque. It is believed the ICE will have a mild-hybrid setup to provide a small boost and improve fuel economy.

While the rumored output is not exactly impressive, the "Midship Sports" mentioned by Best Car is said to weigh just 1,000 kilograms (2,204 pounds). That would make it just about as light as the base Mazda MX-5 with the 1.5-liter engine, which has 129 hp and 150 Nm (111 lb-ft). It's said to be significantly bigger than the Miata and the third-generation MR2 by measuring 4,200 millimeters (165.3 inches) long, 1,720 mm (67.7 in) wide, and 1,220 mm (48 in) tall, with a wheelbase of 2,550 mm (100 in).

Suzuki is reportedly developing the engine while the front suspension will be adapted from the current-generation Yaris. The styling is said to take cues from the Daihatsu Copen although the rendering published by Best Car shows a sleeker sports car that takes itself more seriously. It would be strictly a two-seat affair and carry the Toyota badge."