Fiat has been working on an electric version of its Fiat Palio Weekend in Brazil for about three years. Back in 2007, Fiat was testing 30 Palio Electricos (converted versions of the standard Palio) that were nearly full-feature vehicles: they could go 85 miles or so on a charge and could reach 65 mph. Now, Treehugger is saying that Fiat's Brazilian subsidiary will produce the EV with similar specs at its Foz do Iguazu factory in the state of Parana. The cost will be an estimated $70,000 U.S. Ouch. Currently, the car is being targeted at fleet sales, but could be made available to individuals in the future. As far as we and Treehugger know, this is the first electric vehicle made in South America.