May 9, 2014, 3:45am ET

BMW Z2 roadster coming in 2016?

Rumors indicate the Z2 will ride on a front-wheel drive platform.

A new report indicates BMW is busily developing a small two-seater convertible tentatively dubbed Z2.

Scheduled to debut in 2016 at the earliest, the oft-rumored Z2 will share its front-wheel drive UKL platform with numerous current and upcoming members of the BMW family including the third-gen MINI Hardtop, the 2-Series Active Tourer and the next-gen X1. The Z2 will be considerably smaller than the Z4, and early estimates peg its curb weight at a hair over 2,500 pounds, a figure that would make it over 750 pounds lighter than the Z4.

Engineers will achieve the low weight by using lightweight materials such as carbon fiber and aluminum and by fitting the roadster with a conventional cloth soft top. Consequently, the Z2 will be billed as a pure, driver-focused sports car and not as a touring roadster.

The Z2 will be offered with several four-cylinder engines with outputs ranging from 160 to 230 horsepower, and European buyers will likely have access to an entry-level model powered by BMW's new turbocharged 1.5-liter three-cylinder engine. Car & Driver reports a range-topping Z2 M with a 300-horsepower 2.0-liter turbo four and all-wheel drive will arrive about a year after the regular Z2 lands in showrooms.