Is this the first known case of a PS3 to PSP port? Sega has announced the existence of a portable version of Full Auto 2: Battlelines, due in March of next year.
The game itself promises (via press release) a story mode chronicling 56 single-player "events" and 15 selectable, customizable cars and an undeclared number of new weapons designed just for PSP - no word on whether they're replacing the existing lot or supplementing it.
At least 15 destructible tracks from the original game will be raceable, and race types are scheduled to include the self-explanatory Down & Back and Head-On, as well as the not-so-racey-but-still-expodey Arena Deathmatch. No word on number of players, but ad-hoc is definitely in the works. There's no mention of infrastructure mode though, so be prepared to buy a copy for the guy who sits next to you on the bus as well as yourself to increase your chances of finding a local adversary.