Automotive News Europe — 2024-06-06
Automotive Industry
Fiat is re-engineering the electric 500e to accommodate a mild hybrid gasoline drivetrain. Sales could be as high as 110,00 annually, a Fiat executive said, more than the electric version.
Demand for Fiat's new mild hybrid 500 small car should be about 100,000-110,000 units a year, a group executive said, as the company offers a cheaper version of its full-electric model.
Stellantis, the parent of Fiat, in May 2024 announced it would add hybrid versions of its 500e small electric car and Jeep Compass SUV, to be manufactured in Italy, amid a global slowdown in electric car sales.
The 500e, which has been sold as an electric-only model since its launch in 2020, will be re-engineered to accommodate a 48-volt mild hybrid drivetrain based on the Firefly small gasoline engine, a highly unusual move.
The current 500 gasoline model, first launched in 2007, is built in Poland, where production has already ceased.
The head of the Fiat brand for Europe, Gaetano Thorel, said Thursday, 6 June 2024, in a media round table that market demand for the hybrid 500e was worth 100,000-110,000 units per year. The fully electric version sold fewer than 80,000 units in 2023.
"There are many clients out there who would like to own a 500e, but cannot afford it. Now we're giving them a chance to own it," he said.
Supplier sources have told Automotive News Europe that Fiat was planning for annual sales of the mild hybrid 500 of about 125,000.
Production set for 2026
The hybrid 500e will be based on the same platform as the 500e EV, while Fiat is phasing out the old version of the 500, which was assembled in Poland.
The selling price of the 500e EV starts at about €29,000 ($31,600), excluding government purchase incentives. It is also being launched in the United States.
Fiat brand CEO Francois Olivier said the hybrid 500e would cost "a few hundred euros" more than the one produced in Poland, which starts from around €18,000, as it will offer further technological features.
Production is expected to start in the first quarter of 2026 in the Mirafiori complex in the Fiat's hometown of Turin, in Italy.