FCA launched the 500 with three Euro5-compliant engines: two petrol/gasoline and one diesel engine.
The 1.3 Multijet was equipped with a diesel particulate filter (DPF).
Despite the 500's name, which originally corresponded to its engine displacement, the lowest displacement is 1242 cc with 69 metric horsepower (PS), notably larger and more powerful than both the original 500¹⁹⁵⁷⁻¹⁹⁷⁵ and the Cinquecento1991–1998.

A smaller, turbocharged two-cylinder Twinair engine with 85 PS was later unveiled at the 2010 Geneva Motor Show, entering production the following year.

The TwinAir received the Best New Engine Award for 2011 and was marketed the "world's greenest petrol engine," based on official Euro test cycle data for emissions and fuel consumption.

A naturally aspirated version of the TwinAir was introduced later with larger bore and longer stroke, a displacement of 964 cc (0.964 L; 58.8 cu in) and a higher compression ratio.
This engine delivers 60 PS (44 kW; 59 hp).
Availability is limited to selected markets, e.g., the Netherlands.

The 105PS 0.9 TwinAir engine model was unveiled at the 2013 Frankfurt Motor Show.
FCA launched the 500 with three Euro5-compliant engines: two petrol/gasoline and one diesel engine. The 1.3 Multijet was equipped with a diesel particulate filter (DPF). Despite the 500's name, which originally corresponded to its engine displacement, the lowest displacement is 1242 cc with 69 metric horsepower (PS), notably larger and more powerful than both the original 500¹⁹⁵⁷⁻¹⁹⁷⁵ and the Cinquecento1991–1998.
A smaller, turbocharged two-cylinder Twinair engine with 85 PS was later unveiled at the 2010 Geneva Motor Show, entering production the following year. 
The TwinAir received the Best New Engine Award for 2011 and was marketed the "world's greenest petrol engine," based on official Euro test cycle data for emissions and fuel consumption.
A naturally aspirated version of the TwinAir was introduced later with larger bore and longer stroke, a displacement of 964 cc (0.964 L; 58.8 cu in) and a higher compression ratio. This engine delivers 60 PS (44 kW; 59 hp). Availability is limited to selected markets, e.g., the Netherlands.
The 105PS 0.9 TwinAir engine model was unveiled at the 2013 Frankfurt Motor Show.
Fiat 500 (2007)