Hoping to repeat the success of the revival of the 500 ‘Cinquecento’ minicar last year, Fiat will be brushing off another classic nameplate with new reports claiming the ‘Topolino’ name is set for a comeback. Fiat is planning to build a new family of low-cost B-segment models at the former Zastava plant in Serbia starting in 2010 and the first of these cars is expected to be a modern-day Topolino.

The news coincides with the signing of a memorandum of understanding between Fiat and the Serbian Ministry of Economy and Regional Development, which signs over control of the old Zavodi Crvena Zastava plant to the Italian carmaker. Fiat will invest more than €700 million in the site over the next couple of years in preparation of the new model lineup, reports Automotive News.

The first model to be produced will be called the Topolino and like the original 1936 version (pictured) it will be a compact two-seater. It will be based on the same platform as the 500 minicar but shortened to 3150mm in length. A four-seater will be added in late 2010 and eventually an upmarket model will be added to the Lancia brand.