While Toyota's future FT-86 coupe has been grabbing the news - and motor show stands - around the world since last year, the Subaru version has been kept away from cameras. Now it's in the open. The Subaru coupe will share the drivetrain with the Toyota but go its own way with body styling and cabin flair.
Toyota says its two-door sports car - the first since the demise of the MR2 in 2007 - will go on sale in 2012 but the Subaru may not arrive until 2013. Both cars use a rear-drive platform and front-mounted Subaru boxer engine driving a six-speed manual transmission.
An all-wheel drive model was proposed by Subaru but has been dropped because of weight and cost issues. Though a 2-litre third-generation normally-aspirated (NA) Subaru engine has been fingered as the likely engine, it may be replaced with the punchier 2.5-litre unit.
As a sports car, the 2-litre's 109kW/196Nm output is down on some rivals. It compares, for example, with other NA 2-litre cars such as the Honda Civic Type-R's 148kW/193Nm and Mazda MX-5's 118kW/188Nm.
The design and price of the Toyota-Subaru coupes may also put it up against turbocharged rivals including the Mini Cooper S, Peugeot RCZ, Citroen DS3, Renault Megane Sport and Volkswagen Polo and Golf GTIs.
News from Japan indicates Toyota - which owns 16.7 per cent of Subaru parent Fuji Heavy Industries - has taken control of engine development and is looking at about 147kW (200hp) without any charging. Subaru, on the other hand, may option its coupe with the WRX 2.5-litre turbo for 195kW/343Nm or the STI's enticing 221kW/407Nm.
That may be enough sting to overcome weight issues and allow the coupe through as an all-wheel drive, pleasing Subaru Australia that has invested heavily in the "All4", exclusive all-wheel drive model range. Impressive though an AWD coupe would be, it contrast initial plans.
In April 2008, Toyota (TMC) and Subaru (FHI) announced the proposed jointly-developed coupe in a statement that says they would "jointly develop a compact rear-wheel-drive sports car that will be marketed by both TMC and FHI."
"The compact rear-wheel sports car to be jointly developed by TMC and FHI is envisioned to offer a new `fun to drive' experience based on an all-new vehicle platform powered by an FHI core-technology horizontally-opposed engine.
"Production is to take place at a new plant to be built at FHI's Gunma Manufacturing Division in Japan's Gunma Prefecture. TMC will consign production to FHI."