Tuesday, February 20, 2024

Fiat S.p.A.

Fiat S.p.A., or Fabbrica Italiana Automobili Torino (Italian Automobile Factory of Turin), was an Italian holding company whose original and core activities were in the automotive industry, and that was succeeded by Fiat Chrysler Automobiles NV (FCA). The Fiat Group contained many brands such as Ferrari, Maserati, Fiat, Alfa Romeo, the Chrysler Group, and many more. On 29 January 2014, it was announced that Fiat S.p.A. (the former owner of Fiat Group) was to be merged into a new Netherlands-based holding company Fiat Chrysler Automobiles NV (FCA), taking place before the end of 2014. Fiat Chrysler Automobiles became the new owner of Fiat Group. On 1 August 2014, Fiat S.p.A. received necessary shareholder approval to proceed with the merger (which followed board approval). The merger became effective 12 October 2014.

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, farm tractors, and aircraft. In 2013, Fiat (together with Chrysler) was the second largest European automaker by volumes produced, and the seventh in the world ahead of HondaPSA Peugeot CitroënSuzukiRenault, and Daimler AG.

Over the years, Fiat has acquired numerous other automakers: it acquired Lancia in 1968, became a shareholder of Ferrari in 1969, took control of Alfa Romeo from the Italian government in 1986, purchased Maserati in 1993, and became the full owner of Chrysler Group LLC in 2014. Fiat Group currently produces vehicles under twelve brands: AbarthAlfa RomeoChryslerDodgeFerrariFiatFiat ProfessionalJeepLanciaMaseratiRam Trucks, and SRT.

In 1970, Fiat employed more than 100,000 in Italy when its production reached the highest number, 1.4 million cars, in that country. As of 2002, Fiat built more than 1 million vehicles at six plants in Italy and the country accounted for more than a third of the company’s revenue.

Fiat-brand cars are built in several locations around the world. Outside Italy, the largest country of production is Brazil, where the Fiat brand is the market leader. The group also has factories in Argentina, Poland and Mexico (where Fiat-brand vehicles are manufactured at plants owned and operated by Chrysler for export to the U.S., Brazil, Italy and other markets) and a long history of licensing manufacture of its products in other countries. It also has numerous alliances and joint ventures around the world, the main ones being located in Serbia, France, Turkey, India and China.

Gianni Agnelli, the grandson of founder Giovanni Agnelli, was Fiat’s chairman from 1966 until 1996; he then served as honorary chairman from 1996 until his death on 24 January 2003, during which time Cesare Romiti served as chairman. He was succeeded briefly by Paolo Fresco, who served as chairman, and Paolo Cantarella, as CEO. Umberto Agnelli then took over as chairman from 2003 to 2004. After Umberto Agnelli’s death on 28 May 2004, Luca Cordero di Montezemolo was named chairman, with Agnelli heir John Elkann becoming vice chairman (at the age of 28), and other family members also serving on the board. On 1 June 2004, Giuseppe Morchio was replaced by Sergio Marchionne as CEO.

FIAT Group (Fiat S.p.A.) history, company profile (overview) and history video

   Fiat SpA (or Fabbrica Italiana Automobili Torino) was an Italian holding company engaged in the automobile sector. The FIAT Group designs, produces and sells cars under the brands such as Fiat, Lancia, Alfa Romeo, Fiat Professional, Abarth, FerrariMaseratiChryslerDodgeJeep, Ram Truck, and SRT. In addition, it also operates in the car components sector through Magneti Marelli, Teksid, Mopar and Fiat Powertrain Technologies and in the production systems sector through Comau. Fiat SpA is also active in the publishing sector through Editrice La Stampa SpA and in the reselling of advertisement space through Publikompass SpA.

   Fiat’s major shareholder is Exor S.p.A.

HISTORY


   FIAT was founded in 1899 as the Società Anonima Fabbrica Italiana di Automobili – Torino, subsequently simplified to Fabbrica Italiana Automobili Torino (Italian Automobile Factory of Turin). It was founded by Aristide Faccioli, Giovanni Battista Ceirano, and a group of seven businessmen and aristocrats, including cavalier Giovanni Agnelli.

   In 1968, Fiat acquired Autobianchi.

   In 1969, the Ferrari brand entered the group.

   In 1969, The Group also acquired Lancia.

   In 1971, Agnelli’s attention shifted to Abarth.

   In 1986, Fiat Group acquired Alfa Romeo.

   In 1990, Innocenti and Maserati also entered the Fiat Group.

   Fiat S.p.A. and Chrysler Group LLC merged into Fiat Chrysler Automobiles NV (FCA) on 12 October 2014.


*Information from Forbes.com, Wikipedia.org, and www.fiat.com.

**Video published on YouTube by “Alux.com 

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