Alfa Romeo has revealed the Milano as its third SUV and its first series-production electric car.

Named for the brand's hometown, the urban-focused crossover is positioned as the spiritual successor to the Giulietta and Mito hatchbacks, majoring on accessibility but offering both premium appeal and driver engagement in a bid to "attract a new generation of Alfisti".

Alda Romeo boss Jean-Philippe Imparato said that the Milano was designed to help the brand go "from exclusive to inclusive". He highlighted that the Milano would sit in the same line-up at the ultra-exclusive 33 Stradale, adding: "Alfa is the only brand that is able to sell a car at €2 million and €30,000."

Imparato added: "Many of Alfa Romeo's fans still miss the Mito and Giulietta, and now we revamp their stories. Welcome home."

Measuring 4170mm long by 1780mm wide and 1500mm tall, the Milano adopts several bold new design cues but nods back to Alfas of old with features like the swollen wheel arches, a 'coda tronca' bluff rear end and SZ-inspired headlights. The most distinctive feature is the new interpretation of Alfa's traditional front-end grille, wich on electric versions featured stylised elements from the firm's logo.

As with the Citroën C4, Fiat 600, Jeep Avenger and Peugeot 2008 with which it shares a platform (and its basic dimensions), the Milano is available with the choice of electric or mild-hybrid petrol power.

The Milano Ibrida combines a 1.2-litre three-cylinder petrol engine with a 48V starter-generator and a 28bhp electric motor in the six-speed automatic gearbox for 134bhp and the possibility of short-distance EV running. It's front-wheel-drive as standard, but a four-wheel-drive version will arrive later - "a first in the premium segment", Alfa says.

The Milano Elettrica uses a familiar set-up featuring a 54kWh battery – good for 255 miles and capable of charging at 100kW – and a front-mounted 154bhp motor, but with a "specific calibration" aimed at providing "excellent performance and an engaging and very sporty drive, like every Alfa Romeo".

Claiming "the lowest weight in the segment and optimal mass distribution", Alfa talks up the "best-in-class" driving dynamics of its new small crossover, noting that the chassis was tuned by the same team responsible for the hardcore Giulia GTA super-saloon.

The top-rung Veloce variant of the EV is positioned as the most driver-focused Milano, with the same 237bhp front-mounted motor and a Torsen limited-slip differential as the upcoming Abarth 600e. There are front and rear anti-roll bars, with the firm claiming best in class driving dynamics.

It also has "the most direct steering in the segment", Alfa said, with a ratio of 14:1, alongside a 25mm suspension drop, stiffer anti-roll bars at each end and "high-performance" tyres.

Chunky 380mm front brake discs clamped by four-piston calipers round off the agility-focused chassis overhaul.

There's no word yet on the likelihood of a full-bore Quadrifoglio version, but Imparato has previously said he "will always study the possibility to make a performance version" of each new model, as long as it is "fully consistent with the product portfolio message we send".

"If I consider that I’m not able to offer the right level of performance steps of Quadrifoglio, I will not do a Quadrifoglio version.”

For now, the Milano comes in three trims, which can be combined with each of its three powertrains.

Techno kit includes a hands-free boot lid, LED matrix lights and a virtual assistant; Premium gets vinyl-fabric upholstery, a massaging driver's seat and ambient lighting; and Sport is differentiated by its Sabelt seats, Alcantara trim and performance-inspired exterior trim.

The high-spec Speciale launch edition is available to order now, but Alfa hasn't said for how long it will be available.

All versions have a 10.25in digital gauge cluster – mounted in a retro-style 'telescopic' binnacle – and same-sized infotainment touchscreen, as well as a 400-litre boot and, in the EV, a cable storage bay at the front. Alfa claims that the design of the latter was inspired by the front storage areas offered on its rear-engined supercars.

The car is now available to order in Italy, and will launch in 28 markets in the next six months. Alfa will give UK prices closer to launch, but Imparato hinted it would cost around €30,000 in Italy, so we expect the petrol to start at around £26,000 and the EV to command a circa-£10,000 premium, following the example of the Avenger and 600.