The Murena, whose name is Italian for "Moray", was the successor to the Matra Bagheera, a similar vehicle that resulted from an earlier collaboration between Matra and Simca. Development proceeded under two project names; "M551" for the 1.6 litre version and "M552" for the 2.2 litre version.[3] The prototype received designation P-551 and was accompanied by a series of mockups. The Murena inherited the Bagheera's mid-engined layout and hatchback body shape, but substantial changes were made to address some of the problems with the previous model, among which were a lack of power, absence of a 5-speed transmission option, and a chassis extremely prone to rust. Engineering of the car was done entirely by Matra.[3] Greek industrial designer Antonis Volanis, who had contributed to the interior of the earlier Bagheera and been principal designer for the Matra Rancho, headed up the design.