Italian carmaker Fiat’s transformation from a national laughing stock to a world leader is one of the success stories of the global recession. With the acquisition of US giant Chrysler, Fiat has re-entered the global market with a vengeance, and hopes to roll out its own models in the American market by next year. Jonah Hull of AlJazeeraEnglish reports from Turin, Italy.
Fiat S.p.A., an acronym for Fabbrica Italiana Automobili Torino (English: Italian Automobile Factory of Turin), is an Italian automobile manufacturer, engine manufacturer, financial and industrial group based in Turin in the Piedmont region. Fiat was founded in 1899 by a group of investors including Giovanni Agnelli. Fiat has also manufactured tanks and aircraft. As of 2009, Fiat is the world’s 6th largest carmaker as well as Italy’s largest carmaker.
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