Toyota sports car to arrive in 2011 with Subaru engine
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Toyota’s long-anticipated sports car will arrive in 2011. It will be jointly developed with Subaru and boast a boxer engine.
The compact, rear-wheel-drive “affordable” car will be built at a new Japanese plant to be set up by Fuji Heavy Industries, parent of the Subaru brand.
Each company will market the car separately and badge it as its own.
The model is part of a sweeping expansion of the tie-up between the Japanese companies.
At a news conference in Tokyo on Thursday, CEO Katsuaki Watanabe also said that Toyota Motor Corp. would boost its stake in Fuji Heavy Industries to 16.5 percent, from its current 8.7 percent.
Toyota will pay 31.1 billion yen ($311 million) for the increased holding, effectively snapping up the last of the shares sold back to Fuji Heavy Industries by General Motors in 2005.
Under the growing partnership, Toyota will supply Fuji Heavy Industries with a compact car. Fuji Heavy also will start receiving mini vehicles — cars with engines no bigger than 660 cc — from Toyota affiliate Daihatsu, starting in 2009.
Source: AutoWeek
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