Fiat, an acronym for Fabbrica Italiana Automobili Torino, was founded in 1899 in Turin, Italy. The company was established by a group of investors, including Giovanni Agnelli, who later became a prominent figure in the automotive industry. Fiat quickly grew to become one of Italy's largest automobile manufacturers, producing a wide range of vehicles from small cars to commercial vehicles.

Throughout its history, Fiat introduced several key models that contributed to its reputation and success. The Fiat 500, launched in 1957, became particularly popular for its compact size and affordability, symbolizing Italian automotive design. Other notable models included the Fiat 124, which won the European Car of the Year award in 1967, and the Fiat Panda, known for its practicality and versatility.

Fiat underwent various changes and expansions over the years, including mergers and acquisitions. In 2009, Fiat acquired a stake in the struggling American automaker Chrysler, which led to the formation of Fiat Chrysler Automobiles (FCA) in 2014. This merger allowed Fiat to expand its presence in the North American market and diversify its product offerings.

The company was recognized for its contributions to automotive technology and design, often emphasizing innovation and efficiency. Fiat's legacy included a strong focus on small cars, which catered to urban environments and changing consumer preferences. As of 2021, Fiat continued to operate under the Stellantis umbrella, following the merger of FCA and PSA Group, further solidifying its position in the global automotive industry.