Gordon Murray's T25 and T27 city cars are set to go into production in 2016, after the British car designer announced both have been bought by an unnamed manufacturer.
Sold for an undisclosed amount, Autocar reports the two models will offer a choice of petrol or electric powertrains.
Though 1.2 seconds faster to triple figures, the all-electric T27, which uses a 12kWh lithium-ion battery coupled to a 25kW/875Nm electric motor to deliver a single-charge range of 161km, tops out at 105km/h.
Both T models feature a ‘1+2’ seating arrangement, accessed by a single, front-hinged door designed to aid ingress and egress in tight parking spaces. Visibility is also said to be helped by centrally positioning the driver's seat.
In the T25, the two rear passenger seats can be folded flat, boosting load capacity from 160L to 720L.
Not only lighter than a Smart, the T25 is also smaller measuring in at 2400mm long, 1300mm wide and 1400mm tall.
Its six-metre turning circle is a third larger than the Toyota IQ's but a third smaller than a London cab's.
According to the report, the city cars will feature independent rear suspension, anti-lock brakes, traction control and an airbag.
Gordon Murray design, the team responsible for the T range, also claim that the car’s tubular steel and composite floor chassis is “exceptionally strong”, further boosting the car’s safety credentials.
While pricing is yet to be released, Murray has said previously, "There isn't a city in the world that wouldn't benefit from a critical mass of these running about."
The city cars are something of a departure for Murray, who has a background in Formula One, and famously played a part in the design of the legendary McLaren F1.