11.07.1899 | Fiat foundation

One of the world's largest automotive companies was established on July 11, 1899 as a result of an agreement of a group of shareholders who jointly wanted to create an automobile factory. 

At that time, these began to gain popularity. Today, the brand is unquestionably associated with the Agnelli family, but at the very beginning Giovanni Agnelli, the progenitor of the family of automotive industry magnates, was not the decisive person. One year after its initiation, Fiat became a leader and took a managerial position at the factory.

Initially, the Fiat factory employed a few dozen people and produced a tiny number of cars that were not profitable. When the shareholders decided to go public, Agnelli, believing in the car factory project, bought back the shares from the remaining shareholders.

In the following years, Fiat began to manufacture aircraft engines, taxis and trucks, and in 1910 became the largest car manufacturer in Italy. In 1920, Fiat became wholly owned by Giovanni Agnelli and passed to his successors for decades.

Added by: 3 years ago,

a photo: Press materials