Fiat is actually an acronym roughly translated means Fabrication Industry of Automobile, Turin. If the naming convention holds, it would be FIAD (Detroit).
This is going to be interesting. The Italian government is the majority shareholder of FIAT, Diamler still owns about 20% of Chrysler. The prospect of the American government and the Italian government negotiating over color schemes and interior design is a frightening proposition. (How can Mopar guys tell when it's 2015? It's when the 2010 models arrive in showrooms.)
FIAT, itself is huge. One section of FIAT controls Ferrari and Alfa Romeo. The prospect of a flat crank Hemi with a F1 transaxle on the C300 platform would be the best of both worlds. Note to FIAT: Keep the American electrical system and metalurgy!