Earlier this year, Fiat revealed mild-hybrid versions of the 500 and Panda small cars. Тhe European market will continue to enjoy the benefits of these small city cars, and now, with added benefits from a hybrid powertrain.

Lancia, of course, isn't about to be forgotten as its sole model, the Ypsilon, also gets a hybrid system. In case you aren't aware, the Ypsilon is highly based on the Fiat 500 in which it shares a lot of its components. The new hybrid model isn't an exception.

Gallery: Lancia Ypsilon Monogram

In fact, the Lancia Ypsilon Hybrid is mechanically identical to the new 500 and Panda hybrids. All three cars are powered by the FireFly 1.0-litrе, three-cylinder petrol engine that churns out 70 bhp, coupled to a 12-volt BSG (belt-integrated starter generator) electric motor.

The electric motor draws power from a small lithium battery. According to Lancia, the Ypsilon Hybrid should reduce fuel consumption and emission by as much as 20 percent when compared to its non-hybrid counterpart.

The new Lancia Ypsilon Hybrid can now be configured on its Italian website where it's exclusively sold. There are three choices of powertrains: hybrid, petrol plus LPG, and natural gas/petrol. Interestingly, petrol-powered Ypsilon is out of the configurator at the moment.

The Ypsilon Hybrid's price tag starts at 14,450 euros. This amount of money should give you a hybrid Ypsilon in Silver that has a radio with steering wheel controls, manual air conditioning, 15-inch wheels in matte black, and split rear seat.