Left Menu
Development News Edition

UPDATE 3-FCA plans electric Fiat 500 for 2020 as moves on from Renault

Reuters | Paris | Updated: 11-07-2019 21:47 IST | Created: 11-07-2019 21:45 IST
UPDATE 3-FCA plans electric Fiat 500 for 2020 as moves on from Renault
Image Credit: Flickr

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, it is first battery electric vehicle to be marketed in Europe. The original 500 models, 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 are 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 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. ($1 = 0.8878 euros)

Also Read: Macron calls for synergies, alliances to strengthen Renault-Nissan



5G will be the key driving force for COVID-19 recovery: Here's how?

... ...

Canada’s COVID-19 pitfalls highlight need for integrated health information system

In the globalized world of today where outbreaks can spread far and wide within a matter of days, a global-level integrated health information system is ideal but Canadas provincial barriers show that the country lags much behind in deployi...

Pandemic must be impetus, not obstacle, for clean water access

To make matters worse, there are suspicions that the inadequacy of wastewater treatment methods in California, the rest of the USA, and indeed around the world may help to propagate the disease even more widely. ...

3D printing and the future of manufacturing post COVID-19

The on-demand, customizable, and localized manufacturing of product components facilitated by 3D printing has the potential to redefine manufacturing but there are certain technical, mechanical, and legal limitations that, unless ...


Latest News

Xbox Series X to hit stores in November; Halo Infinite launch deferred

The Xbox Series X game console will be officially launched in November this year, but Halo Infinite, one of the most-anticipated launch title for the console, which was set to launch alongside the Series X wouldnt debut until 2021, the comp...

Sushant Singh Rajput death case: SC to hear another PIL on Thursday

The Supreme Court is scheduled to hear on Thursday a PIL seeking an unified CBI probe into the death case of Bollywood actor Sushant Singh Rajput, contending that the entire country is shocked with the way the Mumbai Police is handling...

UPDATE 2-Norway to quarantine more travellers as COVID cases rise

Norway said it would reimpose quarantine measures on travellers from more foreign countries and reiterated its advice that Norwegians should avoid going abroad amid a jump in the number of new coronavirus cases.Norway diagnosed 357 people w...

Vodafone India Foundation launches portal on digital literacy

Vodafone India Foundation, the CSR arm of mobile service provider Vodafone Idea, on Wednesday launched a portal to help marginalised communities become digital literate and self-reliant. The portal, Digisakshar.org, which has been developed...

Give Feedback