Toyota plans to introduce its plug-in hybrid electric vehicle late this year, a year earlier than originally planned, and a year ahead of the Chevrolet Volt, a senior Toyota executive said Sunday.

James Lentz, the president of Toyota Motor Sales U.S.A., said in an interview that Toyota planned to initially make about 500 plug-in hybrids, which will be made available first to commercial customers. About 150 plug-ins will be slated for customers in the United States, Mr. Lentz said.

GM is hoping that the Volt will save it from the brink.  With Toyota pushing up their plug-in, it seems that there would be even more incentive for GM to speed up its development.

And given the economy right now, perhaps there could be some incentive to make them affordable?  Maybe?