MILAN -- Fiat's new 500 full-electric minicar will have an entry price of 20,150 euros ($23,850) in Italy, including a 6,000-euro government incentive.
The New 500 will reach Italian dealerships shortly, Olivier Francois, head of the Fiat brand, told the Italian press. Deliveries will then start in Germany, France and Switzerland and the car will reach all European dealerships by the end of the year.
Fiat will start three versions of the New 500, including two premium configurations.
The automaker will offer two expensive versions at 23,700 euros and 25,200 euros, including the incentive, Francois said on Thursday.
The cheapest version will have a range of 185 km (115 miles), while the others will have a range of 320 km (199 miles) under Europe's WLTP testing regime.
As well as the baseline incentive, buyers of electric cars in Italy are offered a further 4,000-euro discount if they scrap an old car.
"If you have an old car to scrap, the new 500 BEV could be even cheaper than its petrol-engined sister, whose most popular version costs around 17,000 euros," Francois said.
The New 500, which is part of a plan announced in 2018 to invest 5 billion euros in Italy up to 2021, is FCA's first major step into electric-powered driving.
Fiat has said the New 500 will be sold initially in Europe only. The car will be also sold in Brazil starting next year. Exports to the U.S. could follow if there is sufficient demand, the company said.
CORRECTION: The price of the Fiat New 500 has been amended in this story. The price was misstated during a Fiat press conference.