The much-anticipated and long-delayed “renaissance” of the neglected Lancia brand has finally kicked off, marked by the debut of the automaker’s first-ever EV. Of course, it hasn’t exactly been shrouded in mystery, thanks to several oopsies along the way—including a reportedly stolen prototype taking an unexpected dive into a canal and a fully-fledged production unit caught filming an advert in Italy. The fourth generation of the Ypsilon makes use of familiar Stellantis group hardware, which it shares with the Peugeot 208 and Opel Corsa. Nevertheless, it sets itself apart with uniquely-styled body panels and interior design, adding a heavy dose of Italian flair to the mix.

The sub-compact model, known as superminis in Europe, was unveiled in the EV-exclusive launch edition called the Cassina. Lancia intends to produce 1,906 “numbered and certified units” of the Ypsilon Cassina as a tribute to the brand’s founding year. Serving as the first production model of Lancia’s new styling language, the Ypsilon integrates the illuminated version of the “calice” grille and round taillights inspired by the iconic Lancia Stratos. These features were initially previewed by the Pu+Ra HPE concept and will become standard across all future models, including the Gamma crossover and the Delta hatchback. Other exterior highlights include the polygonal headlights mounted lower than usual on the front bumper, the hidden rear door handles, and the glossy black accents. Still, the familiar proportions, shared mirror caps, and portions of the greenhouse can’t hide the fact that the new Ypsilon is the proudly Italian sibling of the Peugeot 208 and the Opel Corsa.

 

Moving inside, a lot of emphasis was given to high-quality materials and unique design features so that the cabin resembles an Italian living room, at least according to Lancia. This feeling is accentuated thanks to the collaboration with Cassina, an Italian high-end furniture brand, which contributed to the choice of materials and colors. Stand-out features include the velvet-upholstered seats with the nostalgic “cannelloni” motif, and the circular center console that looks like a coffee table. The new Ypsilon is also the first model to introduce Lancia’s SALA (Sound Air Light Augmentation) infotainment system that will find its way into the entire future range. The digital cockpit has two 10.25-inch screens, while the illuminated orb on top of the dashboard serves as an AI-enhanced virtual assistant. Lancia is proud of the ADAS tech saying that the Ypsilon is the only model in the segment that comes with Level 2 Autonomous Driving capability as standard. Other features advertised as “best-in-class” in terms of technology include the lighting and the parking aid systems.

Lancia’s reentry into the sub-compact segment measures 4.08 m in length, 1.76 m in width, and 1.44 m in height. This represents an increase of 240 mm in length, 120 mm in width, and a decrease of 70 mm in height compared to its 14-year-old predecessor, aligning it with modern B-segment models. On the other hand, the weight figure of 1,584 kg was to be expected from an EV.

 

The fully electric version of the Lancia Ypsilon is equipped with a single front-mounted electric motor producing 154 hp and 260 Nm of torque. Energy is drawn from a 51 kWh battery pack, offering a WLTP range of up to 403 km. When connected to a compatible DC charger, the battery can go from 20 to 80 percent in 24 minutes. These specifications mirror those of various Stellantis EVs, including the Peugeot E-208 and the Opel Corsa Electric siblings which share the same eCMP architecture with the Lancia Ypsilon. The electric hatchback will be followed by a hybrid version that will be Lancia’s last ICE-powered model before becoming an EV-only brand. The Ypsilon Hybrid is expected to inherit the mildly-electrified turbocharged 1.2-liter three-cylinder engine with a 48-volt system, borrowed from the Group’s parts bin. The same unit can be found on the mechanically related Jeep Avenger and Fiat 600 SUVs.

Lancia has also unveiled pricing details for the 1,906 units of the Ypsilon Limited Edition Cassina, currently available for order in Italy starting at € 39,999, or approximately US$ 43,000 at current exchange rates. For comparison, the base Tesla Model 3 (RWD) starts from € 42,490 or US$ 45,600 in Italy. Additionally, the automaker includes an Easy Wallbox home charging system and a warranty covering 3 years or 30,000 km with each purchase. The Lancia Ypsilon Limited Edition Cassina will now embark on a tour of Italian showrooms and will be immediately open for orders.

On a final note, while the outgoing 13-year-old Lancia Ypsilon was only available in Italy, the new generation will be sold in more European markets, following the expansion of the brand’s dealer network. This expansion will commence from Belgium and the Netherlands in mid-2024, with France, Spain, and Germany to follow by 2025. Lancia’s criteria for the gradual market rollout include the local buyer’s passion for “Made in Italy” products and the volume of online sales.