Russian Billionaire to build hybrid cars image

Russian billionaire Mikhail Prokhorov on Monday unveiled a new hybrid car called ‘Yo’. The hybrid operates on a combination of electricity and petrol. This will be Russia’s first gas-electric hybrid car.

It took three tries to start the car, according to The Wall Street Journal. The Yo, as it’s called, aims to get 67 miles to the gallon. That’s more than the Toyota Prius.

Yo will be propelled by 2 electric motors, and a small petrol engine that can work both on petrol and natural gas, which will work towards generating electricity that the car consumes while in use.

Russia New Car

Three models are in the works for now: a sedan, a “sporty” car and a small truck. The vehicles are planned to go on sale in Russian in 2012 at a price equivalent to US$14,500.

Mr. Prokhorov, Russia’s second-richest man according to Forbes, bought 80% of the New Jersey Nets and a 45% stake in the basketball team’s soon-to-be-built arena in Brooklyn, N.Y., for $200 million in 2009. Mr. Prokhorov holds large stakes in Russian aluminum producer United Co. Rusal PLC and gold producer OAO Polyus Gold.