Toyota to Show Off Electric Car

Overlooked in today's announcement from Toyota that it expects to record its first yearly loss: The Japanese automaker said it will unveil a battery-powered car at the Detroit auto show next month.

Toyota's electric car -- name unknown -- is still in the prototype stage, but car watchers are intrigued because of the company's early and popular entry into the hybrid market with the Prius.

General Motors is working on its own battery-powered car -- the Chevy Volt, which the company hopes to begin selling in 2010. Toyota wants to produce its electric car in the early 2010s, according to Bloomberg.

-- Michael S. Rosenwald