In Europe, Fiat’s second-generation electric 500e has been available for a short time. In the US, sellers will be able to get it in 2024. The final specs for the small hatchback were released by the manufacturer this week. They include the following important information: That’s how far it can go, 149 miles, and it costs $34,095 (terminal fee included). Even though it has almost twice as much range as the last model, it is still shorter than all of its competitors in the US market, and many of them are cheaper as well. When it comes out, will the new Fiat 500e be a failure, or will its cute Euro supermini form be a hit? As you can see, the first-generation 500e didn’t sell very well. In fact, by the end of the 2000s, Fiat was basically giving customers big discounts on leasing options. A few people offered leases for $49 a month in 2017. That much gas is used by my first-generation Honda Pilot every week. Why did Fiat give these electric doors away like they were McDonald’s Happy Meal toys? They are useless because nobody wants them. The 500e didn’t work for our market because it had a range of only 84 miles in perfect conditions, not enough power to handle freeway on-ramps, and not enough room inside for one big American. What’s different about the new 500e that made Fiat think it would run better? Not only have buyers become more open to electric cars in the four years since the last 500e left our fleet, but the new model also looks like a better deal. The MSRP for the next electric Fiat will be almost the same as the one that came before it, but it will have a much longer range, better technology inside, and charge faster. The Chevy Bolt can go 259 miles on a single charge, while the 500e can only go 149 miles, which is 110 miles less. The Bolt starts at $27,495 as well, which is $6,600 less than the 500e. The Bolt’s 200 horsepower makes things worse for Fiat because it can reach 60 mph in 6.5 seconds, while the 500e takes 8.5 seconds. That is, the Fiat costs more, has less power, is slower, and has a much shorter range than a competitor car that General Motors is getting rid of to make room for something even better. Why is this better? Fiat is selling the new 500e as a high-end item that is fun, stylish, and enjoyable to own, no matter what its specs are. It’s mostly an item that people can wear. That is partly true. The 500e is definitely charming, with its one-of-a-kind interior and stylishly retro Italian outside. We haven’t driven it yet, but Fiat 500s are known for being fun to drive, and the car’s small size will make it easy to maneuver in traffic so that it will be pretty fun. But you could say the same thing about the last 500e; look at where that went. The 2025 electric Mini Cooper is a small electric car that can compete with the Fiat 500e. The new Mini EV will look retro-fun and have a weird interior. It will also have more power (181 hp), more space inside, and a bigger battery pack (58.4 kWh vs. 42 kWh for the Fiat). Mini hasn’t said how much the 2025 Cooper Electric will cost in the US yet, but the base model started at $31,895, which is less than the current 500e. For that reason, the new Mini will not cost much more. Fiat’s position keeps getting worse. The 2024 Volvo EX30 will be out soon and will cost $34,950 (before delivery), which is a bit more than the 500e. It has 268 horsepower, a range of 275 miles, and a lot more room inside because it’s a small SUV. It looks lovely and has a beautiful cabin. As the main Italian car fan on Invoice Pricing, I really want to like the Fiat 500e. Like Italians do, it looks like it would hit my wife in front of me while smoking a cigarette from its mouth. The show is cute and fun. But it looks like style is more important than substance, which is only true when customers’ money is at stake. If the 500e had cost around $20,000, things would have been different. That being said, if it costs the same as or more than cars that people are likely to look at elsewhere, it might fail before you even see its happy face on the road.
