(By Tom Lohnes) – Well folks, the teasers are over. After three images, two videos, and two more final images that surfaced today, Toyota has finally decided to show us their new hot hatch on Thursday, March 31st. Also, it looks way cooler than expected.

This morning, Toyota released a little video of a completely unwrapped GR Corolla, and from what we can see it looks awesome. With the little we can see of the car, we can determine that the GR Corolla revives Toyota’s famed GT-FOUR rally car series, this time just called GR-FOUR. Toyota is very proud of that, as they stamped it into the car’s sheet metal. Also relevant is the GR’s pretty extreme widebody kit. One of the teasers shows a GR badge on the fender of the Corolla hatch, but on top of the badge we can also see a pretty massive fender flare with a large vent in it for brake cooling. The car in the photos also appears to be finished in the same turbulence gray color as the GR Supra.

As little as we can see appearance-wise, we do know quite a bit about the GR Corolla’s powertrain. Under the hood will lie Toyota’s feisty little G16 Turbocharged I3 that will produce somewhere near 300 horsepower and direct power to all four wheels. A 6-speed manual is standard, but there is a good chance an 8-speed automatic will make the options list. Inside, hopefully Toyota updates the standard Corolla hatch’s bland interior. Some racing seats and a racy gauge cluster would help.

Overall, I am very excited to see what Toyota brings to the table with the GR Corolla. The only competition it has is the Subaru WRX and VW Golf R, so a cheaper competitor with similar performance would definitely attract sales.