Fiat S.p.A., (Fabbrica Italiana Automobili Torino), is an Italian automobile manufacturer, engine manufacturer, financial, and industrial group based in Turin, Italy. Fiat was founded in 1899 by a group of investors including Giovanni Agnelli. During its more than century long history, Fiat has also manufactured railway engines and carriages, military vehicles, and aircraft. As of 2009, Fiat group was the world’s ninth largest carmaker and the largest in Italy.
On 20 January 2009, Fiat
S.p.A. and Chrysler
LLC announced their intention 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 distribution network in exchange for providing Chrysler
with technology and platforms to build smaller, more fuel-efficient vehicles in the US and providing reciprocal access to Fiat’s global distribution network.