Mulgari Icon03 Is A Bespoke BMW M240i With More Power Than An M2

Following months of development, UK-based tuner Mulgari Automotive has released its Icon03 project.

It’s a bespoke BMW 2 Series Coupe that bites harder than the M2 Competition. Based on the M240i Coupe, the custom creation uses the same B58 3.0-liter turbocharged straight-six engine but with healthy power and torque gains. Mulgari doesn’t reveal the exact output, but says the engine makes under 500 HP (507 PS) while peak torque is a respectable 435 lb-ft (589 Nm).

Those represent significant increases over the stock car’s 335 hp (340 PS) and 369 lb-ft (500 Nm) of torque. The tuner also attached a full exhaust system from Akrapovic that promises an exhilarating soundtrack.

No performance specs are available for the moment but we’d expect the Icon03 to at least challenge (if not beat) the M2 Competition when it comes to sprinting from 0 to 100 km/h (62 mph) and maxing out on the Autobahn.

Engine aside, Mulgari also paid a lot of attention to the chassis and the suspension when developing the Icon03. The intention was “to create a car full of purist driving dynamics, a homage to the great Bavarian driving machines, past and present.”

That sounds great and Mulgari also promises compliant road holding characteristics as well as sharp, responsive on track ability. To demonstrate it means business, the aftermarket company will attempt to set a lap time at the Nürburgring in late July with the Icon03.

Visually, the Icon03 shows its additional power courtesy of the wider tracks, extended bodywork, bigger wheels shod with wider tires (255 cross section at the front, 275 rear), as well as a carbon fiber aero kit consisting of many elements that pay tribute to some of BMW M’s greatest hits.

For example, the dimpled carbon roof is a throwback to the E46 M3 CSL while the extended wings are a tribute to the E30 M3. Obviously, the aero kit is not just for show: the full-width front splitter and flat floor are responsible for adding downforce.

Inside, Mulgari’s Icon03 features Recaro sports seats, a flat-bottomed steering wheel with extended carbon shift paddles, as well as colored accents on the dash trims and stitching.

Mulgari will only build 25 of these bespoke M240i BMWs, so be prepared for an eye-watering price.