MILAN (Reuters) - Market demand for Fiat's new hybrid 500e small car amounts to around 100,000-110,000 units a year, a group executive said on Thursday, as the company offers a cheaper version of its fully-electric model (EV).
Fiat maker Stellantis (NYSE:STLA) last month 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 "mild" hybrid 500e will combine a petrol engine and a battery, but not have a plug.
The head of the Fiat brand for Europe Gaetano Thorel said in a media roundtable 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 last year.
"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.
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, both petrol-powered and hybrid, which was assembled in Poland.
The selling price of the 500e EV starts form around 29,000 euros ($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 euros, 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.
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