Home LATEST HEADLINES FCA Plans Electric Fiat 500 For 2020 - NDTV CarAndBike

FCA Plans Electric Fiat 500 For 2020 – NDTV CarAndBike

Production of the newly-engineered 500 BEV will start in the second quarter of 2020, with room to expand later

The 500 BEV will compete in the upmarket small car segment with BMW, Mini

Fiat Chrysler (FCA) plans to spend 700 million euros ($788 million) to take the Fiat 500 electric as the carmaker moves on from its failed $35 billion bid to merge with France’s Renault, a pioneer in electric vehicles. FCA chief operating officer for Europe, Middle East and Africa, Pietro Gorlier, announced the Italian-American company’s biggest single bet on an electric vehicle at its Mirafiori plant in Turin, northern Italy on Thursday.

FCA’s investment is part of a plan announced last year to spend 5 billion euros in Italy up to 2021. Gorlier told reporters that FCA had started building the new production line at Mirafiori to turn out 80,000 of the new 500 BEV, its first battery electric vehicle to be marketed in Europe. The original 500 model, launched by Fiat in the late 1950s and known affectionately as the “Cinquecento”, quickly become a symbol of Italian urban design.

Mirafiori’s 3,500 workers are hoping the new electric mini-car will revive a plant which LMC Automotive estimates is running below 10% of its capacity this year. 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.

An early version of the electric 500 has been produced in the United States to comply with local authority rules on zero-emission cars. But former CEO Sergio Marchionne asked customers not to buy the car in 2014 as FCA was losing money on it, and said he hoped to sell the smallest number possible.

Production of the newly-engineered 500 BEV will start in the second quarter of 2020, with room to expand later, Gorlier said.

The 500 BEV will compete in the upmarket small car segment with BMW‘s (BMWG.DE) Mini. The German company said this week the new electric version of its compact car would start to reach customers from spring next year. In abandoning its merger offer for Renault, FCA blamed French politics for scuttling what would have been a landmark deal to create the world’s third-biggest automaker.

(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)

Source link

Must Read

Forget The New Supra, This Is The Toyota You Should Be Looking At – Speedhunters

Introduction When it comes to performance Toyotas, most people will straight away think of the Supra or the AE86, and for good reason – these cars have become...

2019 VW Golf Alltrack, Sportwagen dead at the end of the year

Today is a bad day for wagon fans. The 2019 Volkswagen Golf Sportwagen and Golf Alltrack are both being discontinued for the U.S. market....

Toyota and China’s BYD will build EVs together

TOKYO — Toyota said it would develop battery electric vehicles and batteries with BYD Co Ltd, in a sign it was ramping up partnerships...

Cummins makes offer for VW’s large engines unit, report says

FRANKFURT --  Diesel engine maker Cummins has made an offer for Volkswagen Group's MAN Energy Solutions unit, people close to the matter said, as the automaker...

Maruti Suzuki XL6 front styling revealed

23rd Jul 2019 11:11 am A fresh spy shot reveals more on Maruti’s upcoming six-seater. Maruti Suzuki has begun production of its next launch for India,...