FCA goes big on little Fiat 500 EV, plans to built 80,000

Marco Green
July 12, 2019

The Italian-American carmaker said it plans to invest €700 million ($788 million) in the all-new, all-electric Fiat 500. FCA had started building the new production line at Mirafiori, Turin to churn out 80,000 units of the 500 BEV per year, with the potential for expansion.

"The plan is confirmed", Gorlier told reporters, when asked if FCA's investment in electric vehicle technology would remain unchanged after its $35 billion plan to merge with Renault, an electric auto pioneer, collapsed last month.

The 500 compact auto is one of the group's most famous models, launched by then Fiat in the late 1950s and quickly becoming a symbol of Italian urban design.

FCA's investment is part of a plan announced previous year to spend 5 billion euros in Italy up to 2021.

The MINI can now be had as a full electric vehicle, and soon, one can have another iconic auto in EV flavour.

Workers in Fiat's home town are also betting on the hybrid version of Maserati's Levante SUV, on which production is expected to start next year, to help boost their working hours. The upcoming electric 500 will be Fiat's first EV to be marketed in Europe as the unsuccessful 500e was exclusive to the United States. "It is another excellent example of the ability to create and innovate which abounds in our company and in this city", Gorlier said of the 500 EV.

The 500 BEV will compete in the upmarket small vehicle segment with BMW's (BMWG.DE) Mini.

Other reports by Click Lancashire

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