This is what looks to be the BMW Z4 replacement, an all-new sports car and the first product of the co-operative agreement the luxury German established with Toyota in 2011.
Reports from Europe say it is likely to be badged the Z5 and share its modular chassis with the born-again Toyota Supra and the next-generation Toyota 86.
The replacement 86 might be available for the first time with both hard and soft tops, the convertible perhaps similar to the 2013 concept shown at Geneva. A Supra would have a hard top and likely be based on the FT-1 concept shown at Detroit in 2014.
The spyshots here confirm that the Z4 replacement will have a folding soft-top, to help save weight. Other than that there are few telltale signs: it’s a compact design with minimal front overhang and a typically long bonnet and short rear deck. The rear lights look temporary.
The sports car alliance was launched later. Despite sharing components, both companies said the cars would be different from one another.
There is talk that BMW and Toyota may soon announce an extension of their agreement, to include front-wheel drive architecture to underpin future city cars.