It is the speed rating of the tire. In this case "V" is good for 149 miles per hour. Yeah right in a Hybrid
Here are the rest of the ratings:
M 81 miles per hour 130 km/h
N 87 miles per hour 140km/h Temporary Spare Tires
P 93 miles per hour 150 km/h
Q 99 miles per hour 160 km/h Studless & Studdable Winter Tires
R 106 miles per hour 170 km/h H.D. Light Truck Tires
S 112 miles per hour 180 km/h Family Sedans & Vans
T 118 miles per hour 190 km/h Family Sedans & Vans
U 124 miles per hour 200 km/h
H 130 miles per hour 210 km/h Sport Sedans & Coupes
V 149 miles per hour 240 km/h Sport Sedans, Coupes & Sports Cars