Toyota FT-86 news - Toyota in actually-quite-exciting shocker! - 2009

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Last year, we reported that Toyota and Subaru were collaborating to develop a lightweight, rear-wheel-drive coupe. We were excited.

And now our excitement has reached the heady level of In A Bit of A Tizz, because here it is: the Toyota FT-86, set to debut at the Tokyo motor show later this month.

The FT-86 is labelled a concept, but is expected to reach the road in 2011 alongside a Subaru-badged version.

It's powered by Subaru's 2.0-litre boxer engine, which puts out 146bhp in current production form but should develop slightly more in future iterations.

As we're well aware, the four-pot can be turbocharged to produce monstrous power outputs, but that would also put the price up: Toyota and Subaru are aiming to keep the cost as low as possible to attract younger drivers to the brand. The coupes should weigh in well under £20,000 when they go on sale in the UK.

The FT-86 has a 2+2 seating configuration and measures 416cm in length, just a fraction longer than the Audi TT and around 18cm shorter than the Lotus Evora.

We'll find out much more about the FT-86 - and, perhaps, its Subaru counterpart - in Tokyo in a couple of weeks' time.

For now a quick show of hands: who reckons Toyota might finally be rediscovering its mojo?