Beverly Hills 3/23/2010 3:41:52 AM
News / Business

Chrysler to Debut Electric Fiat in '12

Financial World News Update by Equities Magazine

Chrysler announced plans to develop an electric car to be sold in the U.S. by 2012. The Fiat 500EV powertrain is the electric take on the company’s popular Fiat 500. The car will have a body similar to the small size Fiat 500EV, which first debuted at the Detroit auto show earlier this year.

A number of automotive companies are relying on electric vehicles, particularly ones with the body of a traditional car to help bolster slow sales. Electric cars are not as complicated as many take them for either, the Fiat 500EV powertrain for example is comprised primarily of high power electric motors, a high-tech lithium ion battery, and an EV control unit to control power flows.

Chrysler said despite the high cost of the car’s battery it would be priced competitively with other cars in its market.

The gas-powered model of the car is slated for release in the U.S. at the close of the year.

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