Japanese automaker, Honda has released its new eco-friendly 2013 Fit EV at the Los Angeles Auto Show.

The company claims that the new model offers a 123 city-mile per charge and comes with just one battery. It is based on the popular Fit hatchback and is being launched as part of Honda's plans to release alternative fuel models including gasoline-electric hybrid, plug-in hybrid, fuel cell-electric and natural gas-powered models.

The Fit EV will come with a 20 kWh lithium-ion battery and a 92 kilowatt coaxial electric motor. The electric motor offers impressive levels of efficiency and power while offering high speeds.

The company said that it will start leasing the model to its US customers in the summer of 2012. The company will start leasing the new model to some California and Oregon markets next summer and will expand to six East Coast markets in early 2013.

"The Fit EV is the next critical step in Honda's portfolio approach to alternative fueled vehicles," said John Mendel, executive vice president of sales, American Honda Motor Co., Inc.

He also said that Honda is one of the most committed automakers to creating cleaner, more energy-efficient and more sustainable transport models for the future.

The The Fit EV is expected to retail at about $36,625 with an estimated lease priced at $399 a month.