The business that became Alfa Romeo was founded as Società Anonima Italiana Darracq (SAID) in 1906 by the French automobile firm associated with Alexandre Darracq, with Italian language investors. In late 1909, the Italian Darracq vehicles were selling slowly and the Italian partners associated with the company hired Giuseppe Merosi to design brand new cars. On 24 June 1910, a new company was founded named The. L. F. A., initially still in partnership with Darracq. The first non-Darracq car created by the organization was the 1910 24 HP, designed by Merosi. A. L. F. A. ventured into motor racing, with drivers Franchini and Ronzoni competing in the particular 1911 Targa Florio with two 24-hp models. Within August 1915, the business came under the direction of Neapolitan entrepreneur Nicola Romeo, who converted the factory to produce military hardware for the Italian and Allied war attempts. In 1920, the title of the company was converted to Alfa Romeo with the Torpedo 20–30 HEWLETT PACKARD the first car to be so badged.
In 1921, the Banca Italiana di Sconto, which backed the Ing. Nicola Romeo & Company, went broke and the government needed to assistance the commercial companies involved, among which was Alfa Romeo, through the "Consorzio for each Sovvenzioni sui Valori Industriali". In 1925, the train activities were separated from the Romeo company, and in 1928, Nicola Romeo remaining. In 1933, the state ownership was reorganized below the banner of the Istituto per la Ricostruzione Industriale (IRI) by Benito Mussolini's government, which in turn experienced effective control. The business battled to return to profitability after the Second World War, and turned to mass-producing small vehicles instead of hand-building luxury models. Within 1954, it developed the particular Alfa Romeo Twin Cam engine, which would remain in production until 1994. Throughout the 1960s and 1970s, Alfa Romeo produced numerous sporty cars, but fought to make a profit, so Istituto per una Reconstruzione (IRI), the state conglomerate that controls Finmeccanica sold the marque to the Fiat Group in 1986.
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