TOYOTA’S much-loved – and greatly missed – Supra is poised make a triumphant return.

A new technological tie-up between Japan’s largest automaker and German luxury marque BMW is producing the mechanical bits to make Toyota’s next-gen sports car a reality.

Our spies have spotted a prototype undergoing street trials in Europe, where much of the technical development for the new Supra – and its BMW Z5 cousin – is taking place. Swirly camouflage shrouds most of the finer details and the makeshift headlight and tail-lamp clusters aren’t representative of the final product – but there are still plenty of discernable details.

While the Supra’s styling is expected to be distinct from its BMW-badged cousin, there are some key similarities. Compared with the BMW Z5 prototype also spied recently, the Supra ditches the Bimmer’s kidney grille in favour of a sloping snout that recalls the 1990s-era fourth-generation Supra, while the all-metal turret is entirely different from the folding fabric soft top of the Z5.

The Supra’s rear is reminiscent of the Toyota FT-1 concept’s rump , with a ducktail spoiler and wide haunches framing a pronounced (and presumably functional) rear diffuser. The upturned window line and double-bubble roof of the FT-1 also appear to make the transition from showpiece to showroom, but the concept’s wild scoops and vents sadly won’t.

The next-gen Supra will also drop the practical liftback bodystyle of the original. A conventional bootlid and a fixed rear windscreen both support this.

But while the nose, top and tail are Toyota-specific, the midsection reveals the Supra’s German DNA. The bonnet cutline aft of the front wheel well is identical between the Toyota and BMW, as are the wing mirrors, doorhandles and wheelbase. The door shutlines are different, however, a tell-tale sign that this car is not simply a hardtop derivative of the BMW Z5.

What’s under the bonnet remains a mystery. A BMW-sourced turbocharged 3.0-litre inline six is the most likely candidate, with potential output ranging from the 240kW/450Nm of the BMW 440i to the 331kW/550Nm of the BMW M4.

Other rumours hint that Toyota will turn to a plug-in hybrid setup for its Toyota Supra redux, with 50km of EV-only range and over 300kW of power when the petrol engine and electric motors are working in concert. We’ll likely find out which rumour is on the money in 2017, when the all-new BMW-based Toyota Supra is expected to have its first showing.

We're happy to bring you the first video of the 2018/2019 Toyota Supra prototype! It was spotted leaving and entering the BMW M Test Center at the Nurburgring, which is no surprise considering the Supra is being co-developed and shares a platform with the upcoming BMW Z5.

The new Toyota Supra. Not since the C7 Chevrolet Corvette has there been a sports car enthusiasts have been more excited to see uncovered. And like the C7 Corvette, we think we can show you before anyone else what it’ll look like.

What you’re looking at is, to the best of our knowledge, the most accurate rendition of the new Supra to date. But it wasn’t easy to get.

As with the C7, a source provided Jalopnik with inside information that Toyota certainly would not have wanted us to get. Using that, along with recent spy photos and videos, we’ve been able to construct what we believe is a realistic representation of what the car will look like when it goes on sale. (Obviously we took artistic license with a handful of details, like the headlights and wheels, but the rest of it is spot on with what we got.)

Toyota, of course, declined to comment. It’s much more difficult to get confirmation of this kind of thing as automakers post-C7 have been harder to break, and Toyota and its suppliers, in particular, have kept their lips sealed.

So what are we looking at here, exactly? It’s a brawny coupe with traditional sports car proportions—long hood, low roofline—that clearly takes cues from the wildly popular Toyota FT-1 concept that debuted at the Detroit Auto Show in 2014. It’s just toned down for production, as these things usually are. But the scalloped roof, windows, arching rear fenders and almost airplane-like nose cone are clear homages to that design.

(It also reminds me quite a bit of the Toyota FT-HS concept from 2007, which a lot of people also surmised would become the next Supra.)

So that’s what we know. Here’s what we don’t.

The name. It’s been dubbed the new Supra by pretty much everyone, but there’s been no official confirmation from Toyota yet that it will be called that. They’d be fools not to, though.

The engine. The car’s platform is co-developed with BMW, but no one is clear what motor is under that hood. It may be a twin-turbo six, potentially a V6 with some 400 horsepower. It may also get built in Austria. That’s where the shadow car company Magna-Steyr already produces a few cars for BMW specifically—we think this car will also be a Z5 roadster for the Germans. It may also be a hybrid with all-wheel drive too.

The price. Who can say? Let’s hope Toyota keeps it relatively affordable. The last twin-turbo Supra got pretty pricey, but it was still a giant-slayer in terms of performance. And that was before the tuners got ahold of it.

When we’ll get it. I’m assuming soon! The camouflaged mules running around are no secret at this point. A debut at the Los Angeles Auto Show in November is possible, but if it’s not revealed at a special event somewhere, the Detroit show in January seems more likely to me.

No matter what, this will be the most hotly-anticipated new performance car in a generation. Here’s hoping Toyota can make it move as good as it looks.