If they're going to modify and reuse the current chassis and drivetrain, my money would be on BMW.
But if it's an in-house project, we have an upcoming new sports car platform that will first be used for the new Lexus LFR. It's rumored to also underpin the LC/RC replacement and possibly a new...
Bestcar is reporting the next gen will be a heavily updated version of the current model. Think along the lines of the new Mustang and Camry.
However, @A70TTR and @PerformanceSound are hinting at an in-house V6 turbo Hybrid A100.
The New Honda Prelude Will Be A Global Model, But It Won’t Be A Toyota GR 86
https://www.carscoops.com/2023/11/the-new-honda-prelude-will-be-a-global-model-but-it-wont-be-as-sporty-as-we-might-expect/
https://insideevs.com/features/693877/toyota-ev-manual-transmission-tested/
I Drove Toyota's Manual Transmission For EVs. It's Much More Fun Than You Think
It’s a crazy idea. It’s also a blast to drive, and may keep the manual alive a little while longer.
I’m sitting on the tarmac at Toyota’s...
Is This the Next Chevy Corvette ZR1's New Twin-Turbo V-8 Engine?
https://www.motortrend.com/news/2025-chevrolet-corvette-zr1-engine-cutaway-sneak-peek/