There has been a lot of buzz recently about Toyota’s budget minded rear-wheel drive FT-86 sports coupe. Truth be told this is one nifty little bugger and if the rumors of a Subaru derived 305hp / 290 lb-ft turbo 4-cylinder are true, it’s also going to be an absolute pistol to drive. The FT-86 will be built under a joint venture between Toyota and Subaru. However according to Toyobaru.net, U.S. residents will be seeing the FT-86 badged under the Scion nameplate as the Scion FT-S when it eventually hits U.S. shores. There are also rumors of an AWD version to be released under the Subaru nameplate with a price tag that could be upwards of 40k… that’s big money for a little car that would be a pretty close competitor to Subaru’s own 4-door STI. Production of the Scion FT-S is rumored to begin in the 4th quarter of 2011, so stay tuned for more information.