This is the main battle in the second episode of the short lived 1989 "Ultraman" animated series hade by Hanna-Barbera productions USA.
Interestingly, its supposed to be a full movie. A pilot movie for a series but the local TV station broke it up into 4x18 minute episodes with some edits. This battle is supposed to happen concurrently with the 1st battle between Ultraman"Scott" and the electric robot monster.(see other video)