Toyota Motor Corp. will launch a remodeled version of the Prius hybrid car this month, Toyota President Fujio Cho said Wednesday.
The company expects the new Prius to be recognized as the nation's most fuel-efficient car, a position currently held by the hybrid version of Honda Motor Co.'s Civic.
The new Prius averages 31 km per liter, compared with the current model's 29 km per liter, Cho told a news conference.
Toyota is seeking to sell 300,000 hybrid cars a year by 2005.
The Prius, the first mass-market gasoline-electric hybrid vehicle in the world, was launched on the domestic market in 1997.
Nissan forklift gambit
Nissan Motor Co. said Wednesday it has established a wholly owned subsidiary in Shanghai to sell forklifts and material-handling equipment throughout China.
The new firm, Nissan Forklift (Shanghai) Ltd., will provide Nissan's network of dealers with technological expertise and will provide users of Nissan forklifts in China with customer support services.
Nissan aims to expand its forklift operations under a global business plan, it said.