Watch out, Prius!

Honda gets ready to take on Toyota with a new, affordable hybrid

Honda is gearing up for October’s Paris Auto Show and the unveiling of a new eco-friendly ride the Japanese automaker is banking on to leave rival Toyota in the dust.

The company hasn’t announced the name of its new model but says the entry-level hybrid will get 60 miles per gallon and cost an affordable $19,000. Honda is also planning on bringing three other gas-electric vehicles to market by 2012, reported Wired.

Honda’s aiming squarely at Toyota in an attempt to take out the Prius, the hottest-selling hybrid since its U.S. arrival back in 2001. Meanwhile, a next generation of Prius—a larger version—is in the works.