Abstract:A new lattice model is presented for correlated electrons on the unrestricted 4 L -dimensional electronic Hilbert space ⊗ L n=1 C 4 (where L is the lattice length). It is a supersymmetric generalization of the Hubbard model, but differs from the extended Hubbard model proposed by Essler, Korepin and Schoutens. The supersymmetry algebra of the new model is superalgebra gl(2|1).The model contains one symmetry-preserving free real parameter which is the Hubbard interaction parameter U , and has its origin here in the one-parameter family of inequivalent typical 4-dimensional irreps of gl(2|1). On a one-dimensional lattice, the model is exactly solvable by the Bethe ansatz.