The Italian government has said it is “reassured” regarding the future location of Fiat's headquarters.
Saturday’s meeting between Italian premier Silvio Berlusconi and Fiat CEO Sergio Marchionne confirmed that the company would stay in Turin.
The news comes after the company was in deliberations to relocate to Detroit, home of Chrysler, which Fiat is in the process of merging with.
Fiat chairman John Elkann said: “Fiat would never abandon Turin.”
Berlusconi’s office added: “John Elkann and Sergio Marchionne have confirmed to the government the intention of pursuing the Italian group’s development objectives.”