In the next three years Toyota will cut the cost of its gas-electric hybrid technology by 50%. Toyota’s new target would trim the cost premium for hybrids to about $1,900. The new hybrid technology, which will be used in the next-generation Prius sedan, will be about half the size and weight of the current system.

The others japaneese makers have announced cost-cutting race when it comes to hybrid technology. In July, Honda said it expects to cut the cost premium of its hybrid system to about $1,700 per vehicle by 2009.

Source: Inside Line

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