Get ready for the midget Aston Martin. The automaker has confirmed plans to launch the Toyota iQ-based Cygnet in 2011.

Designed to set a new benchmark for compact luxury, the Cygnet is Aston Martin's answer to increasingly stringent fuel economy and emissions standards. As such, power will likely be derived from a 1.33-liter petrol engine with 97 hp and 91 lb-ft of torque. The mini automobile is expected to achieve a combined fuel efficiency of 55mpg and emit 120gram of carbon dioxide per km.

According to Aston Martin CEO, Dr Ulrich Bez, "Whatever we do, we do right. If we do performance, we do performance; we don't downsize or compromise our sports cars. The Cygnet needs to satisfy the demands of emissions and space. It is a car without compromise, just like every other Aston Martin."