I'd actually like to see a good hybrid done for an offroad vehicle. the torque and control offered by 4-wheel electric assist would be killer. And the mileage could equal or beat a diesel. The 6200 lb Chevy Tahoe hybrid had fuel numbers equal to the current 4runner but with 332 HP and 367 Ft-lbs. That would be awesome in the 4runner.
First off, the first generation GMC/Chevy "Hybrid" trucks/SUVs were a very loose definition of a hybrid (at least as the public has been led to believe.) The reason they got to call themselves a "hybrid" is because the alternator & starter were replaced with a combination generator/alternator/starter "hybrid" unit. The entire system was so the vehicle could stop/start at red lights and save fuel idling. The second generation was closer to a traditional hybrid with motors and a battery pack; but from what I read they weren't that great in real life. They tended to be only slightly quicker than non-hybrid units (if that), and shifting and power delivery was inconsistent and undesirably finicky at times.
All that being said, I would not want a hybrid SUV for off-roading period. With all the issues I see with the Prius line and other hybrids from other brands over the years; I would not want a failure on the trail (granted they don't have issue regularly and it's not like they're fragile) because it'll be a logistic nightmare. Something you need to realize about hybrids is that they can't be towed like a normal vehicle, when the 12v power supply goes, the ENTIRE vehicle is dead, and god forbid the HV battery pack runs out because the 12v was run down and you pushed it too long; then you're SOL until you get to the dealer (thankfully Toyota is
starting to make HV chargers mandatory at every dealer). But that still leaves the question of how you are going to transport a giant brick that can't and isn't supposed to roll without damaging the hybrid system to the dealer to get charged up anyways.
Honestly, I'd rather have an EV off-roader that's been designed and equipped with virtually bulletproof EV drivetrain components that are modular and easy to swap/repair in the field. Unfortunately we're easily a decade or two out from that because while EV technology is nice; it isn't reliable enough to trust out on the trail (highway sure, just call a flatbed and have it taken to the dealer if it has an issue.)
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All that being said, I want what Toyota will not make in North America...
-A Gasoline V8 like the 1UR-FE (4.6L V8) or 3UR-FE (5.7L V8)
-Or a Diesel V8 like the 1VD-FTV (4.5L Twin VGT Common Rail V8), although one of the newer GD diesels aren't too bad I suppose
-Manual transmission isn't as important to me, but if they are going to go above 7 speeds for the transmission it better drive nice. So far every transmission that is about 7+ in speeds just seems to have poor transmission of power (i.e. feel of the vehicle accelerating/decelerating in gears as you load the engine) and/or they hunt for gears noticeably; not to mention the higher gear transmissions have still to prove reliability (one need only look at Chrysler to see how well those 8spds are holding up, not to mention the issues the older ZFs 7spds have been popping up with in other brands.)
-Beefier suspension, the dual wishbone IFS in the J120/J150 is nice and I like it; I'd just prefer the TRD Pro suspension was standard vs. what you have now.
-The body is better designed for larger tires, i.e. the FJ Cruiser will easily fit 33 and up to 35" tires with minimal trimming and rubbing along the fenders compared to a 4th or 5th gen 4Runner.
-Stronger charging system, this is a must for a vehicle that is being touted as off-road in my opinion; mainly because it shows that it's ready to be "built" with winches, lighting, ect.
-Strong differentials and transfercase (granted Toyota has done reasonably well here so it's not that big an issue.)
-Locking front, center, and rear differentials (if they are going to use an electronic unit, preferably one that is very robust)
-Torsen center differential (to give it good on-road manners)
-Not too much luxury or electronic crap (i.e. BSM, Self-Parking, Self-Braking, all that useless garbage that just adds to the sticker price and repair bills), but have enough modern comfort touches that it feels high class (i.e. ventilated seats, a nice modern looking center console & dash, nice but durable rubber/leather/plastic trim, ect.)
-Stout frame (again, not so much an issue as the J120/J150 platforms have been good in that respect) with better rust protection (I haven't had rust issues with my 4th gen but it doesn't hurt to be prepared.)
-Better interior ergonomics (I found the 4th gen to be one of the most comfortable 4Runners to sit in/operate; the 5th gen is nice but many of the switches, rests, and so on are just a little "off" and not as comfortable.)
I could probably go on quite a bit more... but basically Toyota will never make that vehicle. The closest you can come for a brand new one would be a Land Cruiser.
Not the overluxed, mall crawling, blinged out $90k one that exists in the US; but the optionable, more laid back, rugged Land Cruiser you can get over seas in a more "modest" loadout with say the 1VD-FTV 4.5L Diesel V8 and very nice cloth seats.