Yo-Auto backtracks on hybrid plans

MOSCOW, Russia - Russia's Yo-Auto, a joint venture between truck maker Yarovit and Onexim investment group, owned by billionaire Mikhail Prokhorov, plans to initially produce cars with conventional gasoline-powered engines, Chief Executive Officer Andrei Biryukov said on Wednesday.

"A classic engine will be installed on the cars in the first year at least. We will be testing a hybrid engine in the meantime. If the test result is positive, we'll start integrating it into the car," Biryukov said.

Yarovit and Onexim wanted to produce hybrid cars, which will run on petrol and gas and also assisted by electric motors. Prokhorov has said he wants to make a unique eco-friendly hybrid car, which would cost less than $10,000.

Source: RIA Novosti