Toyota Plans a Low Cost Compact Hybrid 'Yaris'

Toyota is looking to sell a hybrid compact at a lower price (under $16,000) starting in late 2011 according to the Asahi newspaper (via Reuters). That's well under the $20K the Honda Insight costs today, the lowest priced hybrid sold in the US or in Japan.

The Toyota compact hybrid will be based on the Yaris platform, with a 'new cost competitive and fuel-efficient hybrid system.'

According to the report, the new compact hybrid would be produced in France and Japan. It's unclear if it would make it to the US.