Toyota to develop cheaper hybrid to rival Honda: Nikkei
TOKYO (Reuters) - Toyota Motor Corp (7203.T) plans to develop a new hybrid car that will sell for less than 2 million yen ($20,510) to rival a popular hybrid car launched by Honda Motor Co (7267.T), the Nikkei business daily reported on Friday.
Honda last month launched its new Insight hybrid in Japan at 1.89 million yen, and has enjoyed very strong demand for the gasoline-electric vehicle.
Toyota plans to launch the new hybrid as early as 2011 at a price about 20-30 percent cheaper than the popular Prius hybrid, which starts at 2.33 million yen, the Nikkei said.
The new hybrid will also likely be a subcompact with an engine smaller than the Prius' 1.5 liter engine.
Toyota declined to comment.
(Reporting by Nathan Layne)
- Gaza toll passes 100; Israel to counter rockets 'with all power' |
- Female Yahoo executive sued for sexual harassment
- Ukraine says rebels will pay as missiles kill 23 soldiers |
- U.S. Navy maintains grounding order for F-35 fighter jets
- German suspect was in contact with State Dept not U.S. spies: officials