Fiat Has Nothing to Lose With Electric 500’s Surprise Second Act
This week, Fiat announced something surprising: The Italian auto brand will bring the electric version of its stylish city car back to the US, several years after pulling it off the market.
The return of the Fiat 500e is a bit of a head-scratcher. Americans like super sized, after all, with trucks and sport utility vehicles making up almost 80% of new-car sales last month. The cute little cinquecento might be good for navigating medieval alleyways in Europe, but driving on the highway in one between giant pickups and three-row SUVs can make one feel a little vulnerable.
Olivier Francois, the global head of the Fiat brand, is undaunted. He showed off three concept versions of the electric 500 at the Los Angeles auto show on Thursday, and said the model will make its way back to US showrooms in 2024.
This is just the latest twist in an already fascinating history for Fiat and the 500 in the US. Sergio Marchionne, the larger-than-life CEO who passed away suddenly in 2018, brought the brand and car back to America over a decade ago as part of a deal with then-President Barack Obama.
Marchionne used his master negotiating skills to persuade the Obama administration during the financial crisis to let Fiat take Chrysler out of bankruptcy without having to pay a dime for its initial 20% ownership stake. What Fiat brought to the table were platforms and powertrains for competitive small cars that Chrysler lacked (Obama famously asked why Detroit's ailing automakers couldn't make a Corolla.)
The Fiat 500 debuted in 2011 with a splashy ad campaign featuring Jennifer Lopez. The battery-powered version that followed ensured Chrysler could keep selling its lucrative Jeep SUVs and Ram pickups in states led by California that
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