Tokyo (ANTARA News) - Honda Motor Co. aims to release in 2009 a small hybrid car powered by gasoline and electricity, President Takeo Fukui said Wednesday.
The new model's annual sales in and outside Japan are projected at 200,000 vehicles, according to the Honda president, Kyodo News quoted.
"It is critical to develop hybrids featuring a better cost performance" than gasoline cars, Fukui added, indicating that Honda aims to keep down the prices of its eco-friendly vehicles.
Honda's existing hybrid, called Insight, is not selling well so the company is hopeful that its new hybrid will help the firm catch up with Toyota Motor Corp., whose Prius is doing much better in the hybrid market.
Fukui also unveiled plans to boost production capacity in North America and elsewhere with a view to raising global annual sales to more than 4.5 million vehicles by 2010.
In Canada, an engine plant is slated to come on stream by 2008, turning out 200,000 units per year.
The company also aims to open a new car plant in the United States by 2008 at a cost of about $400 million. While its location has yet to be decided, its output capacity is projected at 200,000 vehicles a year.
Another facility is due to begin operations in 2010 in Yorii, Saitama Prefecture, to build 200,000 vehicles per year, according to the company. The investment cost is estimated at 70 billion yen ($640 million).
taken from ANTARA
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