Just like Volkswagen’s Blue Sport Roadster, is suffering from an uncertain fate, the future sports car being developed by Japanese automakers Toyota and Subaru is set to be launched in 2012, for now. According to the Japanese magazine Best Car, the future Toyobaru currently wears the code-name “AE86,” showing the company’s intention to recreate the fun to drive affordable Toyota Corolla, Levin and Sprinter Trueno models that were made from 1983 to 1987, the “Hachi-Roku” model has recently found new popularity in the U.S. because of the vehicle’s affinity for drifting. Offering a lightweight rear wheel drive chassis, the low cost Corolla is the preferred starting point for many drifting enthusiasts.

Under the hood of the future "86" will be one of Subaru's 2.0 Liter flat four engines with an all new direct-injection system, tuned to produce an impressive 200 HP and 145 lb-ft of torque. Weighing in at around 2,700 pounds, the 2012 Hachi should be just as sun to fling around as the 20 year old vehicle. The car should be able to go from 0 to 60 MPH in just 6 seconds.

Subaru will work on the car’s underpinnings, being in charge of the chassis design which will be the same as the Impreza; while Toyota will focus on the vehicle’s exterior appearance and overall styling. Even if both automakers decide to sell their creations individually, they should all look pretty much the same on the showroom floor.

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