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The 500e boasts a range of up to 87 miles.

The Environmental Protection Agency (EPA) has given Fiat's new all-electric 500e a rating of 108 MPGe on the highway and 122 MPGe in the city. The pint-sized hatchback is capable of returning 116 MPGe in a combined cycle, making it the third most efficient EV on sale in the United States.

The EPA also tested the 500e's range and concluded that it can drive up to 87 miles on a single charge, which is more than what the smart ED, the Honda Fit EV and the Nissan Leaf are capable of.

Built in Mexico, the 500e's drivetrain is made up of a lithium-ion battery pack and a 111-horsepower motor that transmits power to the front wheels. A full charge takes less than four hours on a standard 240-volt household outlet.

Although Fiat CEO Sergio Marchionne openly admitted that the 500e is a compliance car, Fiat claims that it was designed to take on the best of the EV segment.

"Our environmentally sexy Fiat 500e offers a design proposition like no other while delivering unsurpassed MPGe and class-leading range, making our 500e a serious contender in the market," said the automaker in a statement.

The 500e will arrive in Fiat showrooms in California in the second quarter of 2013. Pricing information will be released closer to its launch.