Mazda to work with Toyota on hybrid

Mazda hopes to market its first hybrid vehicle in 2013.

According to sources, the carmakers are expected to sign a formal agreement on their deal by the end of the current fiscal year.

Toyota will reportedly provide Mazda with the motor, control system and some other main components of its Prius hybrid vehicle.

Rechargeable batteries needed to build Mazda hybrid vehicles will be supplied by a joint corporation set up by Toyota and Panasonic Corp.