Toyota has peeled back the sheets to finally reveal its 2012 Prius Plug-in production model at the 2011 Frankfurt Motor Show.

Toyota describes the plug-in hybrid as the “greenest, most technically advanced Prius yet,” and with an electric-only driving range of 14.3 miles, fuel consumption targeted at 112 miles per gallon equivalent and CO2 emissions listed at 49 grams per kilometer, we’re inclined to agree with the Japanese automaker’s bluster.

Unlike currently available Prius hatchbacks, the plug-in version is rechargeable using an electrical connection, rather than only from electricity generated while the vehicle is in motion. Toyota says that after the Prius Plug-in’s 4.4-kWh lithium-ion battery pack is depleted, the vehicle seamlessly switches to hybrid mode. The Prius Plug-in can be fully recharged in less than 1.5 hours.

On the performance front, the plug-in Prius cranks out 134 horsepower, which Toyota says is sufficient to propel the hybrid hatch from nought to 62 miles per hour in a leisurely 10.7 seconds and onward to a top speed of 112 mph.

Toyota says sales of the Prius Plug-in will start in early 2012 – mainly in Japan, the U.S and Europe – and anticipates annual volume of 50,000 units. The Prius Plug-in Hybrid has a price: $32,000. That’s the just-announced MSRP for the base plug-in hybrid, with the top-of-the-line Prius Plug-in Hybrid Advanced jumping all the way up to $39,525.

Because the both of these Prius Plug-in models have a 4.4-kWh, 176 pound battery pack, it should qualify for a federal tax credit of $2,500. Toyota has also announced that the larger Prius V, which does not qualify for any tax incentives, will start at $26,400.

Toyota says the plug-in Prius will be available in 14 western and East Coast states next spring and in all 50 states in 2013. The Japanese automaker is predicting 15,000 sales in the first full year and the Prius family could eventually be the company’s best-selling nameplate once all members are on sale – presuming overall hybrid sales increase.

Recently, Toyota announced a partnership with Leviton to provide charging stations. Today, Toyota said that it will offer Leviton’s 16 Amp, Level 2 charging station for $999 (including installation), starting in early October. Starting next month, Toyota will start taking reservations for the Prius Plug-in at its website next month.