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Fiat
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Fiat

This article is about Fiat the automobile manufacturer. Fiat is also an English word meaning the exercise of authority. See : Fiat money, Military fiat. The Latin phrase "fiat lux" is the motto of the University of California and means "let there be light".

Fiat is a automobile manufacturer, financial and industrial group based in Turin, northern Italy.

The name is the acronym of Fabbrica Italiana Automobili Torino (Italian Car Factory of Turin), founded by Giovanni Agnelli. His grandson Gianni Agnelli was Fiat chairman from 1966 until his death in January 2003, when he was succeeded by his brother Umberto Agnelli. After Umberto Agnelli's death, Luca Cordero di Montezemolo was named chairman, but Agnelli heir John Elkann became vice chairman at age 28 and other family members are on the board. At this point, CEO Giuseppe Morchio immediately offered his resignation. Sergio Marchionne was named to replace him on June 1, 2004.

The group's activities were initially focused on the industrial production of cars, industrial and agricultural vehicles. Over time it has diversified into many other fields, and the group now has activities in a wide range of sectors in industry and financial services. It is Italy's largest industrial concern. It also has significant worldwide operations, operating in 61 countries with 1,063 companies that employ over 223,000 people, 111,000 of whom are outside Italy. Fiat built the famous Lingotto car factory, opened in 1923.

Fiat corporation, starting from the late 1960s, has bought (or gained control of) a wide range of companies, including:

In the 1970s and 1980s, the company became a pioneer in the use of industrial robotics for the assembly of motor vehicles. Fiat assembly plants are among the most automated and advanced in the world.

Fiat supports the Fondazione Giovanni Agnelli, an important foundation for social and economic research, and Palazzo Grassi, a famous ancient building in Venice, now a museum.

The group is present in many countries, not only in the West. Notably, it was one of the first companies to built factories in soviet controlled countries, with the best known examples in Vladivostok, Kyiv and Togliattigrad. Being AutoVAZ (Lada), (most notably for the Lada Riva. Fiat also has a subsidiary in Poland at Tychy,(formerly called FSM) where Fiat's small cars (the 126, Cinquecento and now Seicento) are made. Fiat has facories in Brazil, Turkey, China and India, where local variants of Fiats are produced as well as the world car, the Palio.

Fiat models imported into the USA were so infamous for poor reliability that the acronym FIAT was said to stand for "Fix it again, Tony".

Table of contents
1 Fiat Car Models
2 See also
3 External links

Fiat Car Models

See also

External links