Toyota Motor Corp.  plans to launch a hybrid vehicle that is cheaper and more fuel efficient than the  Prius as early as 2011, according to Japanese newspaper Yomiuri Shimbun.  The paper reports that the vehicle will be priced around $15,700.00, and share parts with the existing Yaris.  It will be sold in Europe, The United States and Japan.  Toyota would neither confirm nor deny this information but is known to be planning an inexpensive hybrid to compete with Honda's plans for a Hybrid version of its inexpensive Fit.

[SOURCE:Automotive News]