Publication Holiday Autos is reporting (discussions here) that the original FT-86 design we have seen at the 2009 Tokyo Motor Show and the 2010 Tokyo Auto Salon (based on designed by Toyota’s Europe Design Development ED²) has been passed up by Toyota in favor of the alternative design by Toyota’s North American design studio (Calty Design Research). Calty’s FT-86 version (which we’ve yet to see in person except for the sketch below) has been picked over the ED² design and another design by Toyota’s Japanese design team (Toyota Technical Center).

Reportedly, the ED² design was rejected November of last year, the month following the original debut of the FT-86 at the 2009 Tokyo Motor Show. The selection then came down to the designs by Calty and Toyota Technical Center, with Calty’s design winning out.

It’s being reported that the basic elements of the FT-86 in its new form are all ready, with the exception of a few minor items which will be finalized in March. The new Calty designed FT-86 will have less aggressively carved and curved surfaces, will feature increased overhangs (boo!), and have a higher front fascia (in all likelihood to meet current pedestrian safety requirements. Wheelbase and physical dimensions have not changed. As for the Subaru version of the FT-86, it will not differ from the Toyota version as much as previously reported. Expect only badge and option differences.

We’re not sure what to make of this rumor yet as we absolutely adore the FT-86 design that we have all seen in the two Tokyo car shows. The FT-86 design has been an absolute hit and it would take another knockout design to match its sharp, unique, and emotional design. However, do keep in mind that Calty was the studio responsible for the stunning FT-HS concept, so we will reserve judgment for the new FT-86 design (if there indeed is one) until we see it! There may be hope yet.