We just got our hands on the Fiat Group’s refreshed product plan for 2010 and 2011 that was introduced by the firm’s CEO Sergio Marchionne in Rome today. We’ll bring you the full monty later on but here’s a taster of what the company is planning to launch into the market.

Next year will see the arrival of Fiat’s long anticipated New Small Gasoline Engine that will make its premiere on the 500 mini. The innovative 0.9-liter twin-cylinder gasoline engine features turbocharging and Fiat’s Multiair technology that controls the intake valves, depending on the horsepower needed.

Fiat says that while the new engine offers the same performance as a larger naturally aspirated four-cylinder engine, fuel economy and, as a consequence, CO2 emissions are significantly improved.

In addition to the advantages in fuel consumption, the twin-cylinder engine is also said to be 20 per cent lighter in weight and more compact in size compared to a 4-cylinder engine with the same output.

“This is the maximum expression of the concept of downsizing, offering lower consumption and emissions without impacting performance,” Marchionne said during the presentation.

The new two-cylinder engine is expected to be offered in two turbocharged variants developing 80HP and 105HP while Fiat will add a 65HP naturally aspirated version, also equipped with the Multiair system followed up by a CNG version.

At least in Europe, the twin-cylinder engine will find its way on the Fiat Group’s A- and B-Segment models like the Fiat 500, Panda and Punto EVO.

More to come once we sort our the papers out so stay tuned.