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Fiat has owned part of Ferrari since 1969 when it bought a 50% stake in the carmaker. Fiat has been Chrysler's parent since right after Chrysler's bankruptcy and government bailout in 2009. Fiat officially took over Chrysler last year as the two companies merged into FCA. Â© 2017 Time Inc.
Fiat Chrysler approves Ferrari spinoff. Published: Dec 3, 2015 2:58 p.m. Ferrari NV parent Fiat Chrysler Automobiles NV on Thursday approved the spinoff of its luxury sports car manufacturer, just as the shine comes off one of the one of the year's hottest initial public offerings.