The sedan, called the Sai, is a redesigned version of the company's Lexus HS250h hybrid. It will be priced above the Prius hybrid at a base price of 3.38 million yen ($37,290).

The company also intends to begin selling the Prius model in South Korea, where it will compete with offerings from Hyundai.

Honda (NYSE: HMC) reportedly is considering developing plug-in electric vehicles for United States, Europe and Japan, because the company's bid to skip ahead to hydrogen-fueled cars is being slowed by lack of fueling infrastructure.

Read the full report at the link below.

Website: planetark.org/wen/55125

Reprinted with permission from SustainableBusiness.com