Who Owns Fiat?

Fiat, an acronym for Fabbrica Italiana Automobili Torino (Italian Automobile Factory of Turin), was founded on July 11, 1899, by Giovanni Agnelli Sr. and a group of investors including Count Roberto Biscaretti di Ruffia and Emanuele Cacherano di Bricherasio. The company was established in Turin, in the Piedmont region of northwestern Italy, which had a strong industrial base and skilled workforce.

Fiat produced its first vehicle, the 3.5 HP, in 1899 and quickly established itself as Italy's leading automobile manufacturer. By 1903, the company had exported vehicles to the United States and was competing in international motor races. Giovanni Agnelli Sr. served as managing director until his death in 1945, overseeing the company's transformation from a small workshop into one of Europe's largest industrial corporations.

The interwar period saw Fiat expand significantly. The company built the Lingotto factory in Turin, completed in 1923, which featured a rooftop test track and became one of the most innovative manufacturing facilities of its era. Fiat also diversified into aircraft engines, railway rolling stock, and marine engines, becoming a major industrial conglomerate. During World War II, Fiat's factories were converted to military production and suffered significant bomb damage.

Post-war reconstruction brought Fiat's most iconic product: the Fiat 500, launched in July 1957. Designed by Dante Giacosa, the original 500 was a two-cylinder, rear-engined city car that provided affordable motorization for millions of Italians during the economic boom of the late 1950s and 1960s. The 500 became a symbol of Italian design and post-war optimism, selling over 3.8 million units before production ended in 1975. The Fiat 127 (1971) and Fiat Panda (1980) continued this tradition of affordable, practical small cars.

Fiat acquired Alfa Romeo from the Italian government in 1986 and Lancia in 1969, building a portfolio of Italian automotive brands. The company also held a significant stake in Ferrari, which it eventually spun off as an independent public company in 2015. Fiat entered the North American market through a partnership with Chrysler, which began in 2009 when Fiat took a stake in the bankrupt Chrysler Group. By 2014, Fiat had acquired 100% of Chrysler, forming Fiat Chrysler Automobiles (FCA).

In 2019, FCA and Groupe PSA announced a merger of equals, which was completed on January 16, 2021, creating Stellantis. The merger brought Fiat into a portfolio of 14 automotive brands. A revived Fiat 500 electric vehicle, the Fiat 500e, launched in 2020 as the brand's first purpose-built electric car, manufactured at the Mirafiori plant in Turin.

In 2024 and 2025, Fiat faced significant challenges within Stellantis. The brand's sales volumes declined in Europe amid broader Stellantis performance issues. Stellantis CEO Carlos Tavares resigned in December 2024 following a period of declining sales and profitability. John Elkann, chairman of Stellantis and head of the Agnelli family's Exor holding company, took on an interim leadership role while the company searched for a new CEO. Fiat's product roadmap, including the launch of the new Fiat Grande Panda in 2024, continued despite the corporate turbulence.