Honda set for big hybrid investment

More Honda hybrids in 2009

Yesterday, Honda reconfirmed plans to launch a new hybrid in 2009 and to make the sales of hybrid vehicles account for 10 percent of Honda's overall sales by 2010.

"The competition in hybrids has just begun," said Honda President Takeo Fukui.

To help Honda achieve this growth in hybrid vehicle sales, the company plans to invest $425 million in a new research center to further develop hybrids and fuel cell vehicles.