Fiat will be launching a new competition for its 500 minicar called the 5Hundred Cup.

The new series is being sponsored by Speedway Communications together with Fiat and will official launch at a ceremony planned to take place at the Vallelunga circuit near Rome. Organizers hope to launch two new races, one series solely for Italy and another for the rest of Europe.

The new race cars will debut later this month at the Australian Grand Prix in Melbourne, where the cars will be driven in the event’s annual Celebrity Challenge (formerly Mini Coopers were used). The cars have already been testing at Australia’s Bathurst race track and will soon head over to Europe to start the official competition. At this week’s Geneva Motor Show Fiat is debuting its new performance 500 Abarth models, which are expected to be the basis for the new race-prepped models.

An official announcement was set to take place this past Friday, but details remain sketchy, even on the series’ website. What we do know is that the 5Hundred Cup won’t be using actual racing versions of the 500 Abarth. (At least, not yet.) The cars will be based on the 100-hp 1.4-liter 500, tuned to produce 120 hp and stripped of 50kg of extra weight down to 880kg. Upgraded brakes and a competition roll cage will also likely form part of the package, but we’ll have to get back to you when more information becomes available.

Source: Italiaspeed