Fiat has announced the date for the official world premiere of the refreshed 500. From the teaser photo, updates to the popular subcompact are minimal and retains the retro styling cues from the original 500. The model updates will most likely include restyled bumpers and redesigned lights.

Interior changes for the updated 500 are also expected to be minimal. Previous reports suggest revised air vents, additional colored trim and a new infotainment system.

'57 Fiat 500

Fiat's reason for launching the car on July 4 is because 58 years ago, the original Fiat 500 was launched - July 4, 1957. The car was a product of post-war rationing and featured a canvas roof because metal was in short supply. In the interests of costs and packaging, the original 500 had a rear-mounted, air-cooled, two-cylinder 479cc engine.

These days, Fiat 500's are powered by a wide variety of engines. Engine sizes range from 0.9 liters to 1.4 liters with a mix of gas and diesel variants. As a homage to the original 500, the TwinAir is a 0.9 liter two stroke engine. While the original 500 had to make do with 13 PS, the new 500 TwinAir puts out 85 PS. It also won International Engine of the Year 2013 for Best Green Engine.