02/10/2008 21:15. (Adds more comments by president, more background.)

PARIS -(Dow Jones)- Honda Motor Co. (7267.TO) President Takeo Fukui said Thursday the company's new gasoline-electric hybrid will be as fuel-efficient as the Civic Hybrid.

"We are developing this vehicle to achieve excellent fuel efficiency on par with Civic hybrid...but at a significantly reduced price," Fukui said at Paris auto show.

The president told reporters after the press conference at the auto show that he hopes to set the price of the new hybrid around Y2.0 million, lower than around Y2.5 million or more currently set for existing hybrids offered by Honda and other car makers.

The new hybrid Insight will be rolled out next spring in the U.S., Japan and Europe.

Honda aims for combined annual sales of 200,000 vehicles in... // EasyBourse.com