It's officially very official now: there will be a second-generation of the Toyota 86 and Subaru BRZ twins.
Overnight the two companies confirmed they will jointly develop the next-generation sports coupe, although no timeframe has been given for when the cars will appear.
As part of today's announcement and their ever-growing alliance, Toyota will increase its stake in Subaru by purchasing a further 24 million shares. This will increase its voting rights to 20 per cent, up by around 3.2 per cent.
Subaru will also increase its shareholding in Toyota by the same monetary value as Toyota's new stake, up to a maximum of ¥80 billion ($1.1 billion).
With the XV Plug-in Hybrid now on sale in America and Japan, Subaru will continue adding Toyota's hybrid technology to other models. No indication has been given of which models are in line to receive hybrid drivetrains.
The two automakers also reconfirmed their commitment to create a new electric vehicle platform. According to the initial announcement in June, the platform will be suitable for mid-size and large sedans and crossovers.
Toyota and Subaru will jointly develop a new electric crossover based on this platform, but have yet to confirm when this vehicle will be unveiled.
Both automakers say they will also work together on connected vehicle and autonomous driving technology.