Toyota and Subaru announced today in a joint press conference that Toyota is going to double its stake in Fuji Heavy Industries, the company that produces Subaru cars.
Toyota is going to buy 61 million Fuji Industry shares, which increase the automaker’s stake from 8.7 percent to 16.5. In addition to the announcement Toyota and Subaru also announced that the two automakers are working on a new rear-wheel-drive sports car that will be released in 2011. Toyota is in charge of the basic design of the car and Subaru is going to supply the engine. It is rumored that there will be two engines offered, a naturally aspirated 175 horsepower boxer engine and a turbocharged 2.5L.
It has been rumored that the overall design of the car is inspired by the RWD AE86 Toyota Corolla from the 1980’s.
Full Story: eGMCarTech
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