Speaking in an interview with the Italian newspaper, the chairman of Stellantis, John Elkann, traced the history of Fiat, dwelling on the automotive group’s past and future challenges.
Fiat: from almost dead to global leader. The rebirth of an Italian icon
In an interview with one of Italy’s leading newspapers “Avvenire,” Stellantis chairman John Elkann decided to shed a lot of light on the past and future challenges of the large automotive group. The inevitable comparison was made with the Olivetti affair. Elkann, in fact, pointed out how Fiat could have ended its history in a similar way if it had not been for the group’s correct foresight and strength of will to move forward.
Twenty years ago, Fiat’s future was anything but positive. International competition was becoming more intense, the domestic market was failing to provide useful outlets for growth, and corporate management was not always up to the challenge at hand. Just like Olivetti, which faced similar difficulties during the 1990s, Fiat ran the risk of succumbing under the weight of these challenges.
However, unlike Olivetti, Fiat managed to rise again. The turnaround came thanks to several factors, including the acquisition of Chrysler, internal reorganization, and investment in research and development. These bold choices gave the company the opportunity to be able to relaunch itself to the fullest and become a major global player in the automotive industry.
Elkann stated that 20 years ago Fiat was given up for dead. Instead, a different path than nationalization was chosen, as happened to Alitalia and Ilva. Today, the company employs more than 74,000 people in Italy, and in the past five years large investments of 14 billion euros have been made in the country, succeeding in creating cars that are also competitive at the global level. John Elkann also confirmed that he is completely open to agreements and continuous dialogue with the governments of all the countries in which the automotive group is currently operating.
Elkann’s words now speak of a solid Fiat, with a difficult past behind it but with a future that is poised to be of the best desired. The company is ready to meet the challenges of the global market and make a significant contribution to the industry. Fiat’s history shows that foresight, tenacity and innovation are crucial to the success of any company that wants to operate big. Fiat’s future is yet to be written, but the solid foundation has already been established.