After parent company Toyota revealed not one, but two concept versions of their upcoming FT-86 sports car in previous auto shows, Scion has now revealed their own concept based on the same platform. Dubbed the FR-S, which stands for front-engine, rear-wheel-drive sport, the car is supposedly a homage to the AE-86 Toyota Corolla due to its lightweight body and excellent balance. The FR-S rides on 20-inch wheels and is powered by a naturally aspirated 2.0-liter Boxer flat-four developed by Subaru.

It's mated to either a six-speed manual or automatic transmission. Scion claims the design was inspired by the Toyota 2000GT. We'll likely be seeing the production version arrive in Scion dealerships sometime in 2012. Toyota's version will be sold outside of the U.S. No word on pricing, but we're expecting a mid-$20k base price sounds about right.