Giovanni Agnelli founded FIAT in 1899 in association with some other investors. FIAT is an acronym for 'Fabbrica Italiana Automobili Torino' (Italian Car Factory of Turin). FIAT Group owns marques like Ferrari, Alfa Romeo, Lancia, Maserati and Abarth while also controlling brands like Iveco etc. In India this Italian car-maker has not really had the breakthrough it always hoped for and great products like the Palio and Siena died an unfortunate death. Starting afresh with a JV with TATA, FIAT hopes to revive it's Indian operations and has launched the Palio Stile which will be followed by world class products like the Grande Punto. Here's wishing FIAT all the best.