The 767 was developed with Mazda's new four-rotor engine and a chassis based on the 757. The initial design was carried out by Nigel Stroud, with Mazdaspeed adding the final touches. The 767 was more compact than the 757; its length was cut by a substantial 75 mm (4625 mm to 4550 mm), width by 10 mm, height by 15 mm and the tread of both front and rear axles by 14 mm.
Although the 13J-M engine was 70 mm longer than its predecessor, the wheelbase extension was limited to 20 mm through modifications to the layout so that the engine actually encroached into the rear bulkhead. A long nose, short tail design was chosen in order to generate powerful downforce. The nose on the 767 was 100 mm longer than on the 757. A great deal of hope was pinned on this new machine.