The Nikkei reports that Honda Motor Co. is working on a plug-in hybrid electric vehicles and an all-electric car, both for release in about three years.

Honda President Takanobu Ito will announce his company’s plans for plug-in hybrids, electric cars and other alternative vehicles at a news conference Tuesday.

Honda says its plug-in hybrid will be able to go 60km [37 miles] or more on a single liter of gas. This will make it more fuel-efficient that Toyota’s Prius hybrid, which gets 38km per liter. Honda sees the new car as the next big thing in alternative vehicles and will consider releasing it ahead of schedule in such major markets as the U.S. and Japan. Toyota says its forthcoming plug-in hybrid, which is based on the Prius, will get 57km to the liter.

Honda reportedly will release its electric car in the US first.

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