It was first founded as ‘Fabbrica Italiana Automobil Torino – F.I.A.T” by Giovanni Agnelli and several other investors. The same year, the company introduced its first 4 HP car and in 1900 the first plant was built, allowing production to reach 24 cars per year. Fabbrica Italiana Automobil Torino had a steady start and by 1903 was making a profit.

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