Say hello to the car that wants to dethrone BMW’s MINI from the premium subcompact segment, Alfa Romeo’s highly anticipated, Mi.To. After a series of pre-releases, the Italian carmaker unleashed today all info and pictures of its new “baby” model whose name is inspired by the cities where it was designed (Milan) and will be built (Turin).

Due to be launch in all the major markets in stages from July (unfortunately, the U.S. is not among them) the Mi.To is essentially a Fiat Grande Punto wrapped in an 8C Competizione inspired costume. Judging by the pictures, the end result is mouthwatering to say the least. Hopefully, Alfa Romeo’s engineers will have performed some magic to the mediocre in terms of driving dynamics, Grande Punto platform.

Available exclusively as a three-door hatchback, the 4-meter long Mi.To will be offered at launch with two petrol engines, a puny 78Hp 1.4-liter and a 155Hp turbocharged 1.4-liter and one turbodiesel, the 120Hp 1.6 JTDM. All engines are paired with a 6 speed manual gearboxes. -Continued

Starting off with the entry-level 78Hp 1.4, according to Alfa, this particular version was created to satisfy a new Italian law introduced for those who have recently passed their driving test that limits the specific power over tare ratio for drivers who have recently passed their driving test to 67Hp per ton. This law was originally intended to enter into force in July 2008, but this has now been postponed to January 2009.

The Mi.To 1.4 can sprint from 0 to 100 km/h (62mph) in 12.3 sec and on to a top speed of 165 km/h or 102mph. Its average consumption is 5.9 lt /100km or 40 mpg (US). We hope for Alfa’s sake and tradition, that this version will stay put in Italy.

Next up is the turbocharged 1.4-liter Mi.To which can go from standstill to 100 km/h in a satisfying 8.0 sec while its top speed is 215 km/h or 134mph. According to Alfa, it features an average fuel consumption of 6.5 lt /100km or 36.2 mpg.

Finally, the diesel-powered Mi.To 1.6 JTDM goes from 0 to 100 km/h in 9.9 sec and on to a top speed of 198 km/h or 123 mph while its avg fuel consumption is amazingly low at 4.8 lt / 100 km or 49 mpg. Not bad at all for a drop dead georgous car that'd make your neighboor's Prius want to hide out of shame...