British design house Mulgari has unveiled the limited-edition Icon03, a restyled and retuned version of the BMW M240i coupé.
Rebuilt, painted and trimmed at the company’s Berkshire headquarters, the Icon03 features a range of weight-saving and performance-enhancing modifications aimed at preserving what Mulgari calls “the pedigree” of BMW’s M cars.
Just 25 examples will be built, powered by BMW’s turbocharged 3.0-litre B58 engine in a state of tune that produces 435lb ft and less than 500bhp.
The company states that “outright performance of the engine hasn’t been a focus”, prioritising instead a balance of usability and engagement.
Underneath, Mulgari has carried out as-yet-unspecified modifications to the steering and suspension components, although a company spokesman said the M240i was chosen for its acclaimed chassis.
Styling tweaks include wider arches to accommodate larger tyres, an E46 M3 CSL-aping carbonfibre roof, DTM-inspired aerodynamic-enhancing winglets and a prominent front splitter.
Inside, the Icon03 receives Recaro performance seats, a flat-bottomed steering wheel, carbonfibre shift paddles and bright yellow trim pieces.
Although exact performance and modification details remain unconfirmed, Mulgari has named AkrapoviÄ, Peron, KW and others among the companies that have contributed to the project.
The spokesman said the Icon03 was conceived two years ago but has come to be viewed as “a swansong for the rear-wheel-drive BMWs”, following the unveiling of the new 1 Series as a more practical, front-driven hatchback.
