Fiat S.p.A., an acronym for Fabbrica Italiana Automobili Torino an Italian automobile manufacturer, engine manufacturer, financial and Idustrial group. Fiat was founded in 1899 by a group of investors including Giovanni Agnelli. Fiat has also manufactured railroad vehicles, tanks and aircraft. As of 2009, Fiat is the world's sixth largest carmaker as well as Italy's largest carmaker..
On 20 January 2009, Fiat S.p.A and Chrysler LLC announced that they were going to form a global alliance. Under the terms of the agreement, Fiat would take a 20% stake in Chrysler and gain access to its North American dealer network in exchange for providing Chrysler with the platform to build smaller, more fuel-efficient vehicles in the US and reciprocal access to Fiat's global distribution network.
The deal is the latest maneuver by Fiat's CEO,Sergio Marchionne, who has pulled the Italian company back from the brink of collapse since taking over in 2004. Marchionne has been named CEO of the "New" Chrysler, and Jim Press, who has been with Chrysler since 2007, will probably be in charge of day-to-day operations of the company as Deputy CEO when Marchionne is in Italy.
Picture Fiat 500 which will be sold in the U.S.
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