Stellantis-owned (STLA) Fiat auto announced Tuesday that the Italian carmaker will take center stage at Art Basel Miami Beach 2023 on December 7th, where the automaker will auction off three unique Fiat 500e electric cars.
The three Fiat 500e EVs, created in partnership with renowned Italian brands Armani, Bvlgari, and Kartell, will be showcased and auctioned at an undisclosed location. The proceeds from this auction will support a yet-to-be-disclosed nonprofit organization, contributing to a nonprofit to be named following the auction.
"It is rare for an automaker to combine efforts with the most iconic Italian brands of three different sectors, fashion design, furniture design and luxury, to create something truly unique that combines art with an earth-friendly message, making the cars available through auction is even more unusual," said Olivier Francois, CEO of Fiat.
"These three special builds set the stage for FIAT's sustainable mission and create momentum as we approach the arrival of the all-electric Fiat 500e in North America."
This sequence of events contributes to the anticipation as Fiat gears up for the launch of the all-electric Fiat 500e. Marking Stellantis (NYSE:STLA)' inaugural EV offering in North America, the new Fiat 500e holds considerable significance in the company's electrification efforts.
A Swiss auctioneer will conduct the auction. An online catalogue will be published on November 28th, on the innovative de PURY platform, offering an exclusive opportunity for individuals unable to attend the event to participate in pre and absentee bidding.
"I am very excited to conduct the auction of the three unique Fiat 500 cars. They are stunning and beautiful works of art on wheels. It is wonderful that the proceeds of the auction will entirely go to environmental work," said the auctioneer.
Shares of STLA are up 0.35% near end of day trading on Tuesday.