Malcolm Bricklin’s latest venture is a plan to import a low-priced hybrid vehicle manufactured in China for sale in the US. You may remember Bricklin and his company, Visionary Vehicles, and their failed attempt to import cars from China’s Chery automobile. This time ‘round, the plan is to import a car capable of achieving mileage rates of between 100 and 150mpg.

USA Today reports that Bricklin is currently negotiating with up to 15 different Chinese car companies to build his low priced hybrid. The initial deadline was set for 2009 but several delays are likely to have pushed any release date beyond 2010, however, Bricklin is adamant that a working prototype will be ready within the next six months.

Final pricing hasn’t been set but Bricklin claims that the vehicle will be comparable with a Mercedes E Class but sell for between $15,000 and $25,000. Bricklin previously stated that the key to success is to design and build a vehicle that will be unique to the US market quoting “the crux of our decision came from the realization that the Chinese need to learn that you can not develop cars for the Chinese domestic market and then upgrade them for the North American Market.