PARIS – Honda unveiled a new "affordable" hybrid family car at the Paris Motor Show on Thursday to challenge the success of rival Toyota Motor Corp.
The five-door Insight petrol-electric hatchback will go on sale in Japan, Europe and North America next spring, Honda said. President and CEO Takeo Fukui said the Japanese automaker aims to sell 200,000 of the cars worldwide each year.
Honda said its response to Toyota's hybrid-only Prius "will be priced significantly lower than any other hybrid car on the market, making the low emission technology accessible to more people."
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Honda described the white car which it showed off for the first in Paris as a concept version of the production model that will be unveiled in January.
"To reduce CO2 emissions in the near-term, Honda believes the best solution is to advance a hybrid technology to mainstream consumers," Fukui said.
Honda said the Insight is the first of three new hybrid models it will introduce within the next four years. The Insight will be produced at Honda's Suzuka factory in Japan.