2001: Fiat presents the Stilo and the following year Lancia launches the Thesis, its new flagship luxury model.
2003: after almost half a century at the helm of the company, Giovanni Agnelli dies and his brother Umberto takes over as Chairman. Fiat invents the MultiJet technology and the SDE, the smallest direct-injection diesel engine ever produced. In Brazil, the company introduces flexfuel technology, which enables two different fuels (e.g., gasoline and ethanol) to be mixed in the same tank.
2004: Umberto Agnelli dies and the Group’s new leaders are appointed: Luca Cordero di Montezemolo as Chairman, John Elkann as Vice Chairman and Sergio Marchionne as Chief Executive Officer. The Panda wins the “Car of the Year” award.
2005: Fiat Group returns to profitability and the 16v 1.3 MultiJet engine is named “Engine of the Year”. FPT Powertrain Technologies is established.
2006: launch of the TetraFuel system for alternative fuels.
2007: at the end of January, Fiat launches the new Bravo. In March, one of the most prestigious sports car brands in history, Abarth, is relaunched with its reinterpretation of the Grande Punto. On July 4th, the new Fiat 500 hits the market and becomes an instant success. In 2008, it is named “Car of the Year”.
2008: the new Lancia Delta, the Alfa 8C Spider, the 500 Abarth and the Fiorino are all presented for the first time at the Geneva Motor Show. A few months later, Fiat launches the “free space” Qubo and the Grande Punto Natural Power.
2009: on June 10th, Fiat Group and Chrysler Group LLC announce that they have signed a global strategic alliance. The same year, FPT introduces the MultiJet II as well as the MultiAir, a revolutionary electro-hydraulic valve control system. In December, the new Doblò arrives. In addition, Fiat S.p.A. is recognized as a sustainability leader and enters the Dow Jones Sustainability World and Dow Jones Sustainability STOXX indexes.
2010: John Elkann becomes Chairman of Fiat. The company launches two important innovations, the TCT (Twin Clutch Transmission) technology and the TwinAir, the world’s first high-tech two-cylinder engine. In April, there is the debut of the Alfa Romeo Giulietta and the 500,000th unit of the new 500 rolls off the production line. On September 16th, Shareholders approve the plan for the demerger of Fiat S.p.A.’s industrial activities and creation of a new group headed by Fiat Industrial S.p.A.
2011: the demerger takes effect on January 1st. Under the new structure, Fiat consists of FGA, Ferrari, Maserati, Magneti Marelli, Teksid, Comau and Fiat Powertrain Technologies (the “Passenger & Commercial Vehicles” powertrain business). The new group headed by Fiat Industrial S.p.A., which is listed on Borsa Italiana, consists of CNH, Iveco and FPT Industrial (the “Industrial & Marine” powertrain business).