Three years after the Abarth 695 Tributo Ferrari, Fiat-owned performance brand Abarth has launched a special-edition model based on luxury supercar brand Maserati.

The Abarth 695 Tributo Maserati is a tricked-out version of the Fiat 500 which layers in Abarth performance touches and an admittedly-impressive Maserati veneer.

Somewhat reminiscent of the Aston-Martin Cygnet, the Tributo Maserati is a convertible model finished in a color exclusive to Maserati, Pontevecchio Bordeaux.

In collaboration with Maserati, Abarth engineers uprated the 16V 1.4-liter turbo engine, giving it an output of 180hp to the special electronic gearbox, which Abarth says offers reduced gearshift times.

A set of new 17-inch tires featuring the Maserati ‘Neptun’ design and the distinctive hexagonal exhaust pipes found on Maserati cars such as the GranTurismo or Quattroporte complete the model.

The interior of the vehicle includes sand beige Poltrona Frau leather seats with the 695 logo embossed on the headrests, a leather steering wheel, and an instrument panel designed by Jaeger.

Only 499 will be made, each individually numbered. The Abarth 695 Maserati Edition goes on sale at the end of 2012 for £32,000 ($50,000).