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Honda has not yet revealed the name or pricing of the vehicle, but has said it will be a five-door, five-passenger vehicle with its own name.
Honda plans to build the vehicle in Japan and launch it globally on April 22 -- Earth Day -- said Dick Colliver, executive vice president of Honda's U.S. sales arm.
"We believe our hybrid system is best suited for smaller vehicles where the fuel-efficiency gains are the greatest," Colliver said during a speech at the Management Briefing Seminars in Traverse City. "The challenge, especially with small cars, is to bring the price down to where more people can afford it."
The new hybrid is part of Honda's effort, first announced in May, to eventually reach annual sales of 500,000 gas-electric hybrids from four vehicles.
The other three gas-electric hybrid vehicles in Honda's plans include the existing Civic Hybrid, a hybrid version of the Honda Fit and a small, sporty hybrid concept -- loosely based on the discontinued Honda CRX -- now called the CR-Z. It was shown at the Detroit auto show in January.
Colliver said the hybrid Honda plans to launch next year will be priced below Toyota's Prius, the world's best-selling hybrid, and below Honda's Civic Hybrid.
The current starting price for Honda's base Civic Hybrid is $22,600, according to Honda's Web site.
Through July, Honda has sold 22,472 Civic Hybrids in the United States and Toyota has sold 106,225 Prius Hybrids, according to Autodata Corp.
But Colliver said Honda is not aiming to outsell Toyota.
"We are not really attacking any one brand," Colliver said. "We are more looking at launching the product and getting the right car for the consumers."
Colliver said a team of employees began working on the marketing and advertising plans for the launch of the new hybrid about 45 days ago.
"Our goal for this new hybrid model is to make it affordable for a new generation of car buyers," Colliver said.
But Toyota's Bob Carter said his company isn't worried.
Last year, with six hybrids on the market, Toyota sold about 277,000 hybrids, or about 80% of the total market, Carter said.
"We are well beyond being an early adopter," said Carter, group vice president and general manager of Toyota's U.S. sales arm, "and we are well positioned into the core market."
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