Historic Italian brand Lancia, currently part of the Stellantis fold, on Wednesday revealed a redesigned Ypsilon subcompact hatchback, its first electric vehicle.

The current Ypsilon has been on sale since 2011 and is the sole vehicle in Lancia's lineup. The new Ypsilon that replaces it won't be alone for long as Lancia plans to add a flagship model and a modern Delta in 2026 and 2028, respectively.

The new Ypsilon made its debut in electric guise but a mild-hybrid version is planned. All subsequent Lancias will be electric only, the brand has confirmed.

The vehicle, which measures just over 160 inches long, rides on Stellantis' CMP platform. The platform is designed for subcompact cars and is also found in several models from other Stellantis brands, such as the Fiat 600 and Jeep Avenger crossovers, and Opel Corsa and Peugeot 208 hatchbacks.

2024 Lancia Ypsilon

2024 Lancia Ypsilon

2024 Lancia Ypsilon

2024 Lancia Ypsilon

2024 Lancia Ypsilon

2024 Lancia Ypsilon

In the Ypsilon, the platform supports a 51-kwh battery and a single electric motor at the front rated at 154 hp. A sporty version to carry Lancia's HF performance badge is due in 2025. It will boast a wider body, 240 hp, and a host of additional upgrades.

The car's design is thoroughly modern, both inside and out. The design language, known as Pu+Ra, has taken inspiration from the iconic Lancia Stratos and introduces a large T-shaped motif for the daytime running lights.

Inside, the design adopts a lounge-like feel, with input delivered by high-end Italian furniture brand Cassina. A special Ypsilon Edizione Limitata Cassina model will be available at launch, limited to just 1,906 units and exclusive to the Italian market. Digital screens each measuring 10.3 inches serve as the gauge cluster and infotainment hub. The latter runs a new infotainment system dubbed SALA, short for Sound Air Light Augmentation. It relies on a customizable homepage based on widgets, similar to a smartphone's interface. A disc-like element with integrated lights at the top of the dash provides feedback for an AI-enhanced voice assistant.

Don't look for any of the new Lancias to reach the U.S., as the brand is fully focused on the European market. Sales there start in May.