OK, this looks pretty awesome. According to AutoBlog.com, a new “AE86 type car” has been created by Toyota’s “Committee to create interesting cars.”

The article also states that the car’s weight will be below 1000kg and it will have a 1.5L 2NZ-FE engine with 120hp, as well as a RWD drivetrain from Subaru (Fuji Heavy Industries). Oh, and it’s expected to be around $12,300 USD.

This looks like a winner. I’ve been thinking about picking up an old ’86 Toyota Corolla (AE86) to try my drifting skillz (no, I don’t currently have any. =P), but this might be the better bet.

Full article here (though it’s not much longer than what I just wrote): http://www.autoblog.com/2007/08/01/rumoured-new-ae86-more-details/