Ferrari S.p.A is an Italian luxury sports vehicle manufacturer situated in Maranello, Italy. The company name derived from its founder Enzo Ferrari who founded the company in 1939. Originally with a company he created in 1929 – Scuderia Ferrari, he bought and prepared Alfa Romeo racing cars for wealthy drivers. This formed the racing division for Alfa Romeo. In 1939, Enzo left Alfa Romeo and created a company named Auto Avio Costruzioni (Car Aviation Construction) which became Ferrari a few years later. Enzo launched his first car, the (Auto Avio Costruzioni) Tipo 815 in 1940. In 1943, Ferrari manufacturing moved to Maranello. The Ferrari 125 S race car in 1947 was the first vehicle built and launched to wear the Ferrari badge. Just two of these models were produced. In 1969, Fiat owned 50% of the company. In 2014, Fiat merged with Chrysler to form the FCA Group. In 2015, Ferrari became an independent company via an IPO.