US car giant Chrysler said today that it would build an electric version of Fiat's compact 500 - or Cinquecento - for the US market.
'Beginning in 2012, Chrysler Group will manufacture the Fiat 500EV for the US market,' the company said. 'Pricing will be announced closer to launch, but will be competitive with similar electric vehicles in the market,' it added.
The two firms, which tied up at the height of the economic crisis, had previously announced Chrysler would build a petrol-powered version of the 500 in Mexico for the US market. It is expected to debut in 2010.
A new zero-emission version of the cult classic will run off a lithium ion battery and will be developed at Chrysler's headquarters in Auburn Hills, Michigan.
A prototype of the vehicle was unveiled at the Detroit auto show earlier this year, as car makers scrambled for government grants to develop clean-fuel cars.
Chrysler has received a $48m grant from the US government to build an electric version of its Dodge Ram truck.
Chrysler said today that the new breed of cars would free 'customers from escalating fuel costs and costly oil changes'.
