Italian carmakers Fiat have planned for the cheeky Fiat 500 to hitch a lift in a London Eye capsule on Monday 21 January at 8pm – exactly 500 hours after 2008 began.

Fiat UK marketing director Elena Bernadelli said: “It will be a great event, and we at Fiat are committed to making the country smile for a night.”

To complement the launch, Fiat are also staging a glitzy ticketed event, with celebrity attendees, star presenters, live bands and a light show over the Thames.

Fiat caused another stir in November when they announced the hotly anticipated Fiat 500 would cost from just £7,900 a whopping £1,000 less than expected.

This starting price undercuts the BMW Mini drastically – it is available from £13,025. Even the range-topping Fiat 500 1.4-litre Lounge will be just £10,700.

On sale this month, the dinky Fiat will be available in three trim levels: Pop, Sport and Lounge and with 1.2, 1.4-litre petrol or 1.3-litre diesel engines.

Hardcore driving enthusiasts may want to wait a little longer though – a hot Abarth version with 155bhp and sports tuned suspension is expected in the near future.