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Link: http://www.autonews.com/apps/pbcs.dll/article?AID=/20080410/ANA02/901310862/1197
TOKYO -- 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.
The model is part of a sweeping expansion of the tie-up between the Japanese companies.
At a news conference here today, CEO Katsuaki Watanabe also said that Toyota Motor Corp. would boost its stake in Fuji Heavy 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 by General Motors in 2005.
Full article at link.
TOKYO -- 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.
The model is part of a sweeping expansion of the tie-up between the Japanese companies.
At a news conference here today, CEO Katsuaki Watanabe also said that Toyota Motor Corp. would boost its stake in Fuji Heavy 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 by General Motors in 2005.
Full article at link.