London  - Aston Martin, famous for its high-end V8 and V12 super performance cars seen in many a James Bond movie, is working on an eco-friendly small commuter car based on the platform of the Toyota IQ.

The Aston Martin Cygnet will however bear the classic sports car badge with a luxury interior orientated closely to the bigger models. While showing typical Aston Martin features such as the badge on the bonnet, the technology itself would come from Toyota.

"There is still much work ahead but I'm confident that this project will be realised in the near future," Aston Martin's CEO Ulrich Bez said in announcing details of the project.

He added that Aston Martin had to move beyond preconceived ideas about the small-car market, applying craftsmanship and brand values to a new market segment.

Plans are to sell the Cygnet for under 23,000 euros (32,000 dollars) or as a mobility package in combination with the Aston Martin DBS and DB-9.  (dpa)