Toyota launches new hybrid

Toyota Motor Corp. is ramping up its push on gasoline-electric hybrids, launching a new model in Japan and taking on up-and-coming rival Hyundai Motor Co. in its Korean home market with its flagship Prius. Toyota said it aims to sell 36,000 units a year of its new Sai hybrid sedan in Japan, taking another step towards its goal of selling 1 million hybrid vehicles annually worldwide soon after 2010. The Sai sedan, which goes on sale in Japan in December with a base price of ¥3.38 million (US$37,428), is the second hybrid-only model under the Toyota brand after the less expensive Prius, and is a repackaged version of the Lexus HS250h hybrid. (October 20, 2009)