Russian Hybrid in the Works

Russia is investing in hybrid technology to the tune of $204 million. In a joint venture, billionaire Mikhail Prokhorov and Russian truck maker Yarovit, will create three electric car prototypes in December (Source: Bloomberg).

Production will begin in January of 2011, and will 'break-even' by mid-2012.

That's quite a feat. Toyota, Honda and Ford took a lot longer to 'break even' on their initial investment into developing hybrid technology. Other automakers have yet to do so (it's hard to tell really. It's not like they come out and tell you).

The car will cost about 300,000 rubles ($10,300) to 450,000 rubles and will run on gas and methane.