FIAT (Fabrica Italiana Automobili Torino) the Italian Automobile's largest corporation, with headquarter located in Turin. Corporation manufactures passenger cars, sports and racing cars, trucks and industrial and agricultural machinery. FIAT owns several companies for the production of aerospace equipment.
The company was founded in 1899 by J. Anelli and according to the plan of the creator, it was to produce cars under Renault license with "De Dion" engines. Initially the company's staff was about 150 people, who released the first Fiat 31/2. The car did not enjoy popular - there was no reverse gear.
In 1903, Italian authorities have abolished tariffs on imported steel, and it is affected the industry soon: a large-scale production of automobiles, buses, trucks, and various power units began.
The company became famous after the first world record. In 1906 Fiat 300 HP Record with capacity of 290 liters accelerates up to 200 km/h.
Confirmation of the champion status does not keep waiting - in the 1911 S61 Model with a 10.5-liter engine won the Grand Prix race in France. The First World War is beneficial to the economic situation of concern. Production is growing.
By the beginning of the 1920s, FIAT became the largest company in Italy. Many believe that it is a merit of Executive Officer Vittorio Valletta. He actually ran the company during the recovery after the Second World War - the plants suffered greatly, and, moreover, were nationalized.
But in the early 60's the company once privatized, and chaired by the Agnelli family. FIAT builds automobile plant in the Soviet Union in the city of Stavropol-on-Volga (later - Togliatti). In 1969, the FIAT concern merges Lancia and in 1986 - Alfa-Romeo.