Home / Business / FCA invests $ 788 million in new 500 EV battery platform

FCA invests $ 788 million in new 500 EV battery platform

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Fiat Chrysler will invest $ 788 million in the construction of a production line for the new electric 500, according to the company's European CFO, Pietro Gorlier. Extending the car manufacturer's plan to pay 5 billion euros (5.6 billion dollars) in Italy, the agreement takes into account the promises made earlier that the manufacturer would create a platform dedicated to battery electric vehicles.

FCA's largest investment is planned for 2021, which is to produce the Fiat 500 electric battery at the Mirafiori plant in Turin, while Melfi will handle the new PHEVs of Jeep Compass and Renegade. Hybrid systems are expected to use a 1.3-liter turbocharged gasoline engine with a total output of 240 horsepower. Jeep has previously stated that both vehicles would handle 31 miles of fully electric driving and a time of less than 60 seconds in less than seven seconds.

News from the automobile FCA has already installed the first production robot for the future 500 electric vehicle assembly line at Mirafiori. The plant is expected to build 80,000 units per year and production is expected to begin in the second quarter of 2020, with Gorlier suggesting increasing capacity if needed. We expect a huge improvement over the current 500th: a very competitive range, a fun dynamic, more luxury and a higher price. Meanwhile, the non-electric 500 is expected to continue hitting for an indefinite period on the existing platform.

It is unclear to what extent the new 500 EV will emulate the Centoventi electric inspired by the Panda that we previewed in Geneva this year – if that really hinders. But the main assumption is that it would adopt the possibility of customization of the concept vehicle and some Futuristic style while trying to stay true to the historical image of the 500. Some FCA staff members have already confessed that the two would not be alike at all.

[Images: FCA]

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