Fiat is working with Ford Europe on the new version of the iconic 500. Whether or not Fiat’s planning an Abarth performance version is a matter of debate.

Fiat hasn’t confirmed a cabrio edition is on its way, but some magazines say it’ll sport a cloth top not a folding hardtop, and launch with really small engines in the range of 1.1-liters.

Here’s a first glimpse of Fiat’s upcoming Cabriolet version of the new 500 small car that’s scheduled for sale in 2007, with the drop-top planned for 2008.
The New Fiat 500 Cabrio should follow the same formula and draw on Fiat’s expertise with small cars.

From the image it’s clear that the Cabriolet sticks to the lines of the original car, sharing its profile despite the adoption of the canvas roof.

A complex electric folding metal roof was ruled out due to the car’s compact size and low cost characteristic.

The 500’s running gear is shared with Ford’s upcoming Ka replacement, which will be built alongside the baby Fiat at the same factory in Poland.

Under the hood will be several engine options ranging from 1.1-litre and 1.2-litre petrol units to a 1.3-litre Multijet diesel. A 1.4-litre turbocharged petrol engine with over 120bhp plus a new 1.6-litre turbo-diesel is also on the cards.