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Toyota's Lexus Unveils Priciest Hybrid

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May 17, 2007 4:44 am US/Pacific

Toyota's Lexus Unveils Priciest Hybrid

TOKYO (AP) ― Toyota is beefing up its hybrid line-up at the high-end.

It has unveiled its most expensive gasoline-electric vehicle yet, the 124-thousand dollar luxury sedan Lexus L-S.

Executives with Japan's number-one automaker are fully convinced that hybrids are the way of the future. And they're betting that growing consumer concern about the environment—and higher gas prices—will lure wealthy buyers to the new model. It went on sale today in Japan and arrives later around the globe.

Toyota introduced its first hybrid, the Prius, ten years ago. It sold about 300-thousand hybrids worldwide last year, and it plans to sell a million hybrids annually sometime after 2010.

Next month, the hybrid L-S will roll out gradually in Europe, North America and Asia, including China, and other regions.

Toyota expects to sell seven-thousand Lexus L-S cars this year.

(© 2007 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.)

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