Honda’s recent financial troubles may have claimed the NSX-replacement and the automaker’s F1 efforts but it won’t stop plans to launch a new hybrid sports car next year based on the 2007 CR-Z concept car. The new model is currently being designed and engineered in Europe, its expected key market, and a debut at this October’s Tokyo Motor Show has been suggested by recent reports.

Designed as a spiritual successor to the original Honda CRX, the production version of the CR-Z is expected to be powered by a compact four-cylinder engine displacing less than 1.5L and matched to an electric motor. The combined output for the car should be close to 140hp (105kW), with drive sent to the front wheels via a CVT, according to

Other reports from U.S. sources indicate that Honda may go with a 1.8L engine. It turns out that both assumptions could be right giving the U.S. market a higher torque engine to suit its needs while equipping Japanese and European models with a more efficient engine.

The original CR-Z concept was described as a next-generation lightweight sports car equipped with a Honda petrol-electric hybrid system. It featured an oversized grill and aggressive wedge shape, plus a centrally mounted muffler, a rear glass hatch and LED headlights.