Fiat was found in 1899 in Turin, Italy with the first production plant opening in 1900. It’s first vehicle was the Fiat 4 HP. Fiat Automobiles is the largest vehicle manufacturer in Italy. Literal translation of “Fabbrica Italiana Automobil di Torino” is “Italian Automobiles Factory of Turin”. Fiat acquired 50% of Ferrari in 1969. Lancia (founded 1906), also became part of Fiat the same year. Ownership of Ferrari by Fiat was increased to 90% in 1988. In 2014, Fiat merged with Chrysler and announced that it would separate from Ferrari. Fiat Chrysler Automobiles then merged with the PSA (Peugeot Citroen) Group in 2019.