Fiat
This term is used a lot to set the two worlds of cryptocurrency and traditional currency apart. Traditional currencies like USD, Euro, Yen, etc are what you would call “Fiat” currency. Fiat money is physical currency that a government has declared to be legal tender, but it is not backed by a physical commodity.
Fiat Automobiles S.p.A. (UK: /ˈfiːət, -æt/, US: /-ɑːt/, Italian: [ˈfiːat]; originally FIAT, Italian: Fabbrica Italiana Automobili di Torino, lit. 'Italian Automobiles Factory, Turin') is an Italian automobile manufacturer, formerly part of Fiat Chrysler Automobiles, and since 2021 a subsidiary of Stellantis through its Italian division Stellantis Italy. Fiat Automobiles was formed in January 2007 when Fiat S.p.A. reorganized its automobile business, and traces its history back to 1899 when the first Fiat automobile, the Fiat 4 HP, was produced.
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| Type | Subsidiary (S.p.A.) |
|---|---|
| Industry | Automotive |
| Predecessor |
|
| Founded | 2007 |
| Founder | Luigi Damevino Cesare Goria Gatti Roberto Biscaretti di Ruffia Carlo Racca Emanuele Cacherano di Bricherasio Michele Ceriana Mayneri Lodovico Scarfiotti Alfonso Ferrero |
| Headquarters | , Italy |
Area served | Worldwide |
Key people | John Elkann (President) (acting) Olivier François (CEO) |
| Products | Automobiles, Electric vehicles |
Production output | 1,330,000 units (2019)[needs update] |
| Revenue | 800,000,000 United States dollar (2012)  |
| Owner | Stellantis |
| Parent | Stellantis Italy |
| Subsidiaries | |
| Website | fiat.com |
Fiat Automobiles is the largest automobile manufacturer in Italy. During its more than century-long history, it remained the largest automobile manufacturer in Europe and the third in the world after General Motors and Ford for over 20 years, until the car industry crisis in the late 1980s. In 2013, Fiat S.p.A. was the second largest European automaker by volumes produced and the seventh in the world, while FCA was the world's eighth-largest automaker.
In 1970, Fiat Automobiles employed more than 100,000 in Italy when its production reached the highest number, 1.4 million cars, in that country. As of 2002, it 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 has also manufactured railway engines, military vehicles, farm tractors, aircraft, and weapons such as the Fiat–Revelli Modello 1914.
Fiat-brand cars are built in several locations around the world. Outside Italy, the largest country of production is Brazil, where the Fiat brand was for many years 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 Stellantis North America for export to the United States, Brazil, Italy and other markets) and a long history of licensing manufacture of its products in other countries.
Fiat Automobiles has received many international awards for its vehicles, including nine European Car of the Year awards, the most of any other manufacturer, and it ranked many times as the lowest level of CO2 emissions by vehicles sold in Europe.
