Published on June 7th, 2024 | by Sounder Rajen

Seems Like Hybrids Are Doing Better Than EVs As Fiat Sees High Demand For New 500e

So will more automakers shift focus to hybrid instead of EVs given this new trend?

During a recent media roundtable, a senior executive at Fiat maker Stellantis unveiled insights into the market demand for the company’s latest innovation, the hybrid 500e small car. Gaetano Thorel, the head of the Fiat brand for Europe, disclosed that market interest in the hybrid variant of the 500e is estimated at approximately 100,000 to 110,000 units annually.

Stellantis, the parent company of Fiat, made headlines last month with its announcement to expand its electric vehicle lineup. The plan includes the introduction of hybrid versions for both the 500e small hybrid car and the Jeep Compass SUV, both to be manufactured in Italy. This means that demand for hybrids is reportedly higher than that of electric vehicles (EVs).

Moreover, the forthcoming mild hybrid Fiat 500e will feature a unique combination of a petrol engine and a battery system, distinguishing it from its fully-electric counterpart. Unlike the fully electric version, the hybrid variant will not require plug-in charging, offering convenience to a segment of consumers.

Thorel emphasised the significance of this development, noting that there is a substantial segment of potential customers interested in the 500e but unable to afford it. By introducing the hybrid option, Fiat aims to make the iconic 500e accessible to a wider audience, thereby expanding its market reach and boosting sales volume.

On top of that, the hybrid 500e will leverage the same platform as its fully-electric counterpart, ensuring consistency in performance and design. Concurrently, Fiat plans to phase out the older versions of the 500, including both petrol-powered and hybrid models previously assembled in Poland.

In terms of pricing, the fully electric 500e starts at approximately 29,000 euros (roughly RM147,902), excluding government incentives, and is slated for launch in the United States. Francois Olivier, CEO of the Fiat brand, disclosed that the hybrid variant would be priced slightly higher, incorporating additional technological features.

However, he assured consumers that the price difference would be minimal, with the hybrid 500e costing “a few hundred euros” more than its Polish-produced counterpart. Overall, Fiat’s strategic decision to introduce the hybrid 500e underscores its commitment to innovation, sustainability, and meeting the diverse needs of consumers in an evolving automotive landscape.