Chrysler Group LLC, the struggling U.S. automaker, is planning to develop an all-electric version of the Fiat 500 compact vehicle in the U.S. market some time in 2012, the company said.
The car will be the first electric vehicle being marketed under the alliance. Fiat, based in Italy, signed an alliance agreement with the Auburn Hills, Michigan-based Chrysler after the automaker underwent a government-assisted bailout in 2009. Fiat owns roughly 20 percent of Chrysler.
The electric Fiat 500 would be assembled at Chrysler’s Toluca, Mexico plant, where the company is also planning to introduce a gasoline version of the car later this year. While the gasoline version of Fiat 500 is developed by Fiat, the electric version will be co-developed by both Chrysler and Fiat. Massachusetts-based A123 Systems will supply the battery for the new car.
“The Fiat 500 is a small, lightweight platform perfect for integrating electric-vehicle technology,” said Scott Kunselman, Chrysler senior vice president of engineering, in a statement. The Fiat 500 is about six inches shorter than the Mini Cooper.
Pricing and availability of the vehicle has not yet been announced, but experts believe the price tag should be around the same as Nissan’s Leaf, which will be sold in the low $30,000-range, net of a $7,000 federal tax credit.
Chrysler is the latest automaker to join in on the electric vehicle frenzy. General Motors Co. has high hopes for its upcoming Chevrolet Volt electric car, and Ford Motor Company is currently developing an electric version of its Transit Connect van for this year.
Nissan-Renault will introduce its all-electric Leaf vehicle also later this year.
The car will be the first electric vehicle being marketed under the alliance. Fiat, based in Italy, signed an alliance agreement with the Auburn Hills, Michigan-based Chrysler after the automaker underwent a government-assisted bailout in 2009. Fiat owns roughly 20 percent of Chrysler.
The electric Fiat 500 would be assembled at Chrysler’s Toluca, Mexico plant, where the company is also planning to introduce a gasoline version of the car later this year. While the gasoline version of Fiat 500 is developed by Fiat, the electric version will be co-developed by both Chrysler and Fiat. Massachusetts-based A123 Systems will supply the battery for the new car.
“The Fiat 500 is a small, lightweight platform perfect for integrating electric-vehicle technology,” said Scott Kunselman, Chrysler senior vice president of engineering, in a statement. The Fiat 500 is about six inches shorter than the Mini Cooper.
Pricing and availability of the vehicle has not yet been announced, but experts believe the price tag should be around the same as Nissan’s Leaf, which will be sold in the low $30,000-range, net of a $7,000 federal tax credit.
Chrysler is the latest automaker to join in on the electric vehicle frenzy. General Motors Co. has high hopes for its upcoming Chevrolet Volt electric car, and Ford Motor Company is currently developing an electric version of its Transit Connect van for this year.
Nissan-Renault will introduce its all-electric Leaf vehicle also later this year.
