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Fiat was founded in 1899 in Turin, Italy, by a group of investors including Giovanni Agnelli. The company quickly became a significant player in the automotive industry, producing its first car, the Fiat 3½ HP, in 1900. Over the years, Fiat has expanded its offerings and has been involved in numerous ventures, including the acquisition of Ferrari and Lancia, and the establishment of Fiat Chrysler Automobiles in 2014. Fiat has played a crucial role in the automotive landscape, particularly in Europe.