Fiat was set up by the industrialist Agnelli family who spotted an opportunity. In 1898, Giovanni Agnelli met Count Emanuele Bricherasio di Cacherano, an eccentric Turinese nobleman. The aristocrat was busy looking for investors for his horseless carriage project. Few investors were interested but Agnelli sensed it was a good proposition and so on 1st July 1899, four years before Henry Ford set up his company in America, the F.I.AT or Fabbrica Italiana di Automobili Torino was incorporated and shortened to Fiat. Fiat-based cars are built around the world including Brazil, Argentina and Poland and joint ventures in India, China Turkey and so on. It is one of the world's largest carmakers featuring makes such as Iveco in trucks to the Fiat Panda.