Honda will roll out a Concept variant of its small hybrid vehicle, to be christened Insight, at this years' Paris International auto show beginning October 2.

The Insight will be up for grabs in the US at the next spring season and is likely to be priced substantially lower than other hybrids.

"The original Honda Insight pioneered hybrid technology in the US and remains a symbol of Honda's commitment to innovative technology and fuel efficiency," said Takeo Fukui, Honda Motor Co Ltd's CEO.

The Insight will be a five-door, five-passenger hatchback. Varied technologies, including function to aid customers get more fuel efficient will be applied.  The company says the new hybrid vehicle will represent the best value in its segment. The new vehicle will be produced at an expanded hybrid production line at the Suzuka factory in Japan.

The company hopes to sell 200,000 units of the hybrid vehicle per year - approximately 50% of it in North America.

Honda also plans to unveil another unique sporty hybrid vehicle based on the CR-Z, which was first shown at the 2007 Tokyo Motor Show. Honda hopes to register around 500,000 units of global sales a year, or more than 10 percent of its total worldwide annual sales.