MILAN (Reuters) – Lancia unveiled its new compact car, the Ypsilon, on Wednesday. This is the first of three new models promised by the luxury brand as part of a multi-year relaunch plan to sell the vehicle again outside its home market of Italy.
After shrinking to a single model sold only in Italy, the 117-year-old brand, part of Stellantis, also has plans for a midsize crossover in 2026 and a compact hatchback in 2028. It is also a fully electric car.
The brand plans to make its fleet 100% electric starting in 2026.
Initially announced in a battery electric (BEV) version with a 51Kwh battery and a range of up to 403km, the new Epsilon will be released in Italy before the summer as a limited release series of 1,906 units contracted with an Italian design furniture manufacturer. It is scheduled to be released in Cassina.
Price is 39,500 euros ($42,270), including VAT but excluding government purchase incentives. The full-series version of the car is expected to be priced lower, and a hybrid model will also be available.
The new Epsilon replaces the current version of the car, which is cheaper and slightly smaller, and sold about 45,000 units last year.
Lancia said in a statement that sales of the new Ypsilon in other European markets will depend on a network of 70 dealers in major cities. It will start in Belgium and the Netherlands in mid-2024, followed by France and Spain, with Germany expected in 2025.
The new car will be produced in Zaragoza, Spain, on the same platform as other Stellantis models, including the Jeep Avenger, Fiat 600, Peugeot 208 and 2008, and Opel Mocha and Corsa.
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(Reporting by Giulio Piovaccari; Editing by Jan Harvey)