As it slowly gains on General Motors as the top automaker in the world, Toyota is planning to bolster its lineup by filling in the sports car slot with, what else, a hybrid. The company says that withithout the Celica and MR2 in the lineup, the full benefits of its participation in Formula 1 is  effectively being wasted.

Not only will the vehicle be a hybrid, it will also target the likes of BMW and Mercedes. Europe will be the biggest battleground for the automaker anyway as it expects sales there of more than one million Toyotas and 45,000 Lexus models this year. The new hybrid sports car is expected to contribute to Japanese juggernaut's goal of selling over 1.2 million vehicles in Europe by 2010.

[Source: Bloomberg]