Carmakers Toyota and Subaru have unveiled joint plans to develop and launch a new sports car by 2011.
The collaboration is expected to strengthen relationships between the two manufacturers, although each company has stated plans to market and badge the car individually.
Production of the new model will take place at a new plant set up by Subaru’s parent company Fuji Heavy Industries (FHI), which will be funded by the money received from Toyota for its increased share in FHI – from 8.7 per cent to 16.5 per cent.
Under the terms of the partnership, Toyota has agreed to supply FHI with the body of the sports car and FHI will contribute the vehicle’s technology.
Toyota also announced that from next year FHI will receive access to mini vehicles from Toyota’s affiliate manufacturer Daihatsu .
