The 2010 Tokyo Motor Show turned out to be a hot spot for green machines with a pulse. Even Toyota, a company known more for the bran-flake Prius than its sporting intentions, showed off some lean hardware. Chief among those was a collaboration with Gazoo Racing called the MR2 Sport Hybrid. Based on the last generation MR2 roadster – you know, the one that went out of production way back in 2007 – the car packs a number of changes to make it a worthwhile competitor on track.

For one, the company ditched the anemic 1.8-liter four-cylinder for a 3.3-liter V6 mounted mid-ship. Coupled to Toyota’s THSII hybrid system, the car is good for 392 horsepower. An electric motor spins the front wheels, making this MR2 officially all-wheel drive. All that grunt puts this topless wonder into the 4.5-second 0-60 mph range. But will Toyota build it? Not likely, at least not in the iteration you see here. A few rumors have been dusting up over the company’s desire to build a Honda CR-Z competitor, but the odds of an MR2 resurrection seem slim.

Toyota has officially said it would like to produce one million hybrids per year by 2011. That means we can expect to see quite a few new hybrid models in the company’s arsenal and soon. Whether or not a convertible, high-powered model like the MR2 Sport Hybrid is one of them remains to be seen. You know we’ve got our fingers crossed on this one.