It comes as a surprise, considering Fiat has been saying all along that the Fiat 500e is a compliance only car and Fiat would lose $10,000 on each one they sell. However, in a recent press release from FIAT Brand North America, when the Fiat 500e launches in California it can be bought outright for $32,500 before incentives, or it can be leased with a $199 lease payment for 36 months with $999 due at signing.

Since Fiat has only committed to selling the Fiat 500 Electric in California, we’ll talk about incentives in that state. With a $7,500 federal tax credit and a $2,500 state tax credit, that would bring the effective price down to $22,500.

Currently, the Fiat 500E has the highest range rating given by the EPA to any OEM electric vehicle that isn’t a Tesla – the Fiat 500e is rated at 87 miles electric range, followed by the Honda Fit EV at 82 miles, the Focus Electric with 76 miles, and the Nissan Leaf with 75 miles. Fuel efficiency is rated at 116 MPGe in the city and 100 MPGe on the highway. The EPA estimates it would cost $500 per year to power the 500e.

The 500e has an electric motor that puts out 111 hp and 147 lb-ft of torque, powered by a 24kWh lithium ion battery pack. Although the EV is based on a gasoline vehicle, the battery pack doesn’t take up and cabin space.

The Fiat 500e also has a ridiculously long list of standard features, including a 7 inch TFT display with navigation, and heated front seats.

The Fiat 500e will go on sale this summer in California. Time will tell if Fiat expands the availability of the tiny EV nationwide.