Toyota to Announce Prius Plan Soon - TheStreet

Toyota to Announce Prius Plan Soon

The world's largest automaker says it will announce plans soon for dealing with braking problems on its Prius hybrid.
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Updated from Sunday, Feb. 7

TOKYO (

TheStreet

) --

Toyota Motor

(TM) - Get Report

reportedly said Sunday that it would announce plans soon for dealing with braking problems in its Prius hybrid.

The company's statement comes amid media reports that it has decided to issue a recall of the Prius in Japan.

"We will make an announcement soon on the action we plan to take," spokeswoman Ririko Takeuchi said, according to the

Associated Press

. Takeuchi would not confirm media reports saying Toyota would issue a Japan recall, the

AP

added.

Bloomberg

reports Monday that Toyota will recall its 2010 model Prius hybrid car in Japan this week to repair a problem with the car's brakes.

Bloomberg

cited two people familiar with the matter.

Toyota, the world's largest automaker, plans to recall at least 270,000 units of the gasoline-electric hatchback in Japan and the U.S. to repair braking systems, one person said,

Bloomberg

reports.

A Prius recall would be another stumble for the world's largest automaker; it recently issued a massive recall on other cars because of sticking gas pedals.

The company has told U.S. dealers it is preparing to repair the brakes on thousands of Prius vehicles there, although it's unclear whether that would be part of a formal recall, the

AP

also reported, citing an email sent by a company executive.

Toyota shares closed Friday up $2.93 at $74.71.

-- Written by a member of TheStreet.com staff

.