Honda has taken the covers off a new two-seat concept for a future low-emissions sports car that’s already being touted as a preview of the replacement for the aging S2000 roadster. The new concept, dubbed the Open Study Model (OSM), is officially described as a ‘design study’ that promotes Honda’s new green performance image.

Hyundai is preparing to launch the world’s first hybrid vehicle powered by advanced lithium-polymer batteries and capable of running on liquefied petroleum gas (LPG). Recently named the world’s fifth-largest carmaker in conjunction with its Kia subsidiary, Hyundai is making strides to build a product line that reflects its status among the world’s top manufacturers.

BMW first revealed that its X6 SUV would possibly be available as a hybrid model when it rolled out the X6 ActiveHybrid concept vehicle at last year’s Frankfurt Motor Show. The show car’s advanced hybrid drivetrain was claimed to offer fuel consumption and emission ratings of up to 20% better than a comparable car with conventional drivetrain, yet still enable the performance and driving dynamics expected of a BMW.

Effectively completing a deal announced in April, Subaru parent company Fuji Heavy Industries (FHI) on Friday agreed to sell 61 million treasury stocks to Toyota for a price of ¥31.11 billion (approximately $303 million). The new shares increase Toyota's holding in FHI from 9.5% to 16.16%, improving the capital on hand at FHI and Subaru while deepening the ties born in 2005 when Toyota acquired its original stake from General Motors.

Toyota's latest payment is expected to be completed by July 14.

Volkswagen has revealed its intentions to enter the race to build and market ultra-efficient plug-in hybrid vehicles with today’s unveiling of the new Golf Twin Drive. The concept car derives its name from its twin-powerplant design, comprised of an electric motor designed for city driving and an internal combustion engine for longer trips.

Toyota has announced the development of a next-generation fuel-cell hybrid that can travel more than twice the distance of previous models, representing a large step for the Japanese manufacturer in bringing the technology to production.

Chrysler has been building a presence in Australia for several years now, and although it doesn't command as many sales as local manufacturers Toyota, Ford or Holden the carmaker is keen to expand its line-up with not only new models but innovative technologies as well.