The Detroit Newsreports that Toyota will unveil a concept version of a new hybrid vehicle that will be smaller and cost less than the Prius.
Toyota Motor Corp. is moving to expand its renowned hybrid franchise by developing an all-new hybrid-only model that will be smaller and more affordable than its wildly popular Prius.
The Japanese automaker will unveil a concept version of the car on Jan. 11, the first day of the North American International Auto Show's press preview.
Toyota officials declined to discuss the vehicle, but people familiar with the project say the car, a subcompact, is scheduled to go into production in Japan in late 2011 and roll into U.S. dealer showrooms in early 2012.
The Detroit News says Toyota plans to start making 150,000 units of the new hybrid when it debuts. The Detroit News also says the subcompact hybrid vehicle from Toyota should best the Prius's 50 miles per gallon mileage.
The Detroit News 
