Last year, the performance car rumormill was fired up when reports began to surface that Toyota was working on a new MR2 packing hybrid power. Now, those rumors have been extinguished.

Toyota has unveiled a new concept based on the third generation MR2 named the MR-S (ZZW30). Although the MR2 finished up in Japan in 2007, Toyota and its partners at Gazoo decided to bring back the MR-S by fitting a 3.3-litre V6 where the old 1.8-liter four-cylinder used to live and an electric motor mated to Toyota’s THSII hybrid system for the front wheels. This makes the MR2 Sports Hybrid Concept all-wheel drive, and between the two powerplants, it puts out about 295kW through a CVT gearbox.

But despite its boosted output, the 1,270kg concept is a bit on the burly side when compared to the 997kg stock MR-S. However, Toyota claims it can run to 100 kph in 4.5 seconds — so its no slouch, but whats the cost to the MR-S handling?

There is no way in hell Toyota will be putting the MR2 Sports Hybrid Concept into production, but it might be a clue to a possible future for the MR2/MR-S nameplate.

Check out the MR2 Sports Hybrid Concept in action below.