It is more that Fiat bought Chrysler. They did it for access to the American car market.
175 bhp is the power of the fiat x19 1300 1973 engine and its maximum speed is 108 mph.
The headline price is $32,500, which already includes a $10,000 per car loss FIAT makes on each one that's sold. (They wear the loss as it gives them clean air credits they can use to keep selling guzzlers such as the Viper and other SRT models.) But you won't pay anything like that. First the US government chips in a $7,500 discount for driving a battery-powered car. Then California throws another $2,500 into the pot. Fiat then adds another $2,500 incentive, which leaves it at around $20k.