The Fiat Concept Centoventi electric city car unveiled at the Geneva motor show could reach production as a stripped back, highly customisable reinvention of the Panda as soon as 2021 - but only if potential buyers signal a love for radical concept and the the firm’s FCA parent company gives the green light quickly to the significant investment required to build it.

The car, said by Fiat brand boss Olivier Francois to have been first conceived four years ago under the codename CC4, referencing city car, fourth generation (there have been three previous Pandas), has been conceived to deliver both a minimalist but still cool take on the city car, while also delivering on the FCA Group's need to put electrified vehicles on sale in order to avoid tough regulatory fines for missing upcoming CO2 targets.

“It is driven by a desire to capture the essence of one end of the Fiat spectrum, while at the same time - if we’re being honest - to build our electrified portfolio and avoid any fines,” said Francois. “I prefer to focus on the former, as this is a car that I have watched being developed with great passion, but it is also important that I acknowledge the pressures, especially as they might help drive the investment decisions I need to get it made. Whether we like it or not, they are focusing our energies.”

Boosting the chances of Concept Centoventi, named in recognition of the Italian firm's 120th anniversary, reaching production is the announcement that the FCA Group has developed a new, EV-only platform that will underpin an all-new electrified Fiat 500 that will be unveiled at next year’s Geneva show. Francois admitted the two cars could potentially share the same basic underpinnings as a result, although he declined to confirm it.

The Centoventi - 3680mm long, 1527mm high and 1846mm wide, with a wheelbase of 2430mm - is designed to be highly customisable and upgradeable. Fiat’s suggestion is that it will be offered in base form with a single battery that gives 62 miles of range. Owners can buy or rent up to three extra underfloor batteries, along with one that slides under the driver's seat, to extend the range to up to 310 miles. Fiat says that the underfloor batteries can be added by a garage in "under five minutes".

The charging port is located in front of the windscreen, and features a cable reel under the bodywork, eliminating the need to carry cables in the boot. However, Fiat has not given any technical details of the car's electric powertrain.

Strikingly, the four-seat concept version displayed at Geneva features a minimal dashboard and a removable passenger seat. There are notches on the dashboard on which buyers can fix features and accessories purchased separately. Fiat says it has patented the interlocking mounting system, which it likened to Lego blocks.