This piece of news doesn’t come as a surprise. British-based sports car maker Aston Martin, yes the same company that has been giving us Bond cars has confirmed the production of the Cygnet super mini. The Cygnet which apparently “sets a new benchmark for compact luxury” is pretty much a refaced Toyota iQ.

Although the powertrain has not been confirmed, the Cygnet is likely to be motivated by Toyota’s 97hp 1.33 litre engine with 123Nm of torque. No mouth watering, rumbling V8s here. The compact vehicle is scheduled to go into production sometime next year and it will be built at Aston Martin’s Gaydon headquarters.

“Our customers need a small car for urban and city use, and they want the right tools for the right job, to downsize creatively without compromising intelligence, artistry and personality,” said CEO Dr Ulrich Bez. “The Cygnet is designed to support our sports cars by providing a greater degree of freedom in the urban context; it is a very special car, a premium but compact package with heart, soul and personality,” he added.

Despite being given the weird look by a few, Aston Martin’s venture into the compact car business is getting the blessings my many at the same time. Take Lotus for example. The company recently shown the CityCar concept at the Paris Motor Show. Just like the Cygnet, the CityCar concept is also a small sized vehicle. Although being just a concept at the moment, the CityCar is likely to go into production. More details including pricing and specifications of production Cygnet will be released by year end.