Word of Russian billionaire Mikhail Prokhorov's plans to mass produce the world's cheapest natural gas hybrid minicar ($7,000 to $10,000) leaked out earlier this year. The billionaire's ambitious project calls for the construction of assembly plant in the Russian city of Togliatti starting in January 2011. Prokhorov's investment, a mere €150 million ($201 million U.S. at the current exchange rate), will supposedly fund construction of the facility and production of the the hybrid vehicles.
Prokhorov City Car Images
Russian billionaire Mikhail Prokhorov has initiated a project, backed by the government, to mass produce the world's cheapest hybrid vehicle. The ambitious plans call for construction of a plant in the Russian city of Togliatti, the release of two prototype models by the end of next month and the launch of a production version in 2012. Initially, Prokhorov targeted a price of $10,000 for his hybrid vehicle, but reports now suggest that a price tag between $12,000 and $14,000 is the new goal. Eve