It's been more than two years since BMW and Toyota signed an agreement to co-develop high-tech sports cars. There have also been plenty of rumors regarding what exactly the new car(s) would turn out to be. GT86, BMW Z4 and ever 6 Series replacements were all mentioned. Now it appears more exact details are coming to light thanks to Australia's Motoring. Forget those aforementioned rumors for now; the two automakers are planning something much better: a $300,000 LFA replacement, and it will be a hybrid.

Picking up where the LFA left off, this two-door supercar will be Toyota's competitor to the likes of the Porsche 918 Spyder. So where does BMW fit into the picture? Toyota wants use of the former's 4.4-liter twin-turbo V8, which develops roughly the same power output as the LFA's naturally-aspirated V10, but emits significantly less C02. This V8 would then be joined to a Toyota hybrid system. Expect to see an abundance of carbon fiber and other lightweight construction materials as well. Neither company has confirmed any of this just yet, but we're excited nonetheless.