The agreement between Fiat and Ferrari

In 1969 Ferrari, entered into an agreement with Fiat, selling much of his company’s equity to the Turin-based car manufacturer.

If 1963 was the year of the agreement between Enzo Ferrari and Filmer Paradise from Ford fell through, 1969 was the year he made a contract with Fiat. In fact, Ferrari was more interested in the famous companies in Italy than in the gargantuan corporations from overseas. And he had had unfinished business with Fiat since 1919.

The first agreement between the two companies involved the production of 65° V6 engines for both  Ferrari and Fiat brand cars. These would be the famous Dino cars, named after Enzo Ferrari’s eldest son, who had designed and built this type of engine before his death.

Furthermore, with the 1969 agreement, Fiat acquired a 50% stake of Ferrari and preemptive right for the purchase of the remaining 40% after the death of Enzo Ferrari, which would happen in 1988. The remaining 10% would be left to Piero, Enzo’s second son, who will be the company’s Vice President. With the investment, Fiat immediately took important initiatives at Ferrari, including the construction of the Fiorano track and the expansion of the factory in Maranello.

And so, in the end, the Drake managed to cross paths with Fiat. His first attempt was in 1919, when Ferrari moved to Turin in his twenties. He went to apply for a job at Fiat, but he was not selected. After that, he felt he had unfinished business with the Italian parent company of motor vehicles, and  finally, fifty years later, he took care of the situation in Maranello. Ferrari was now a mature man who had become a world-famous automobile manufacturer.

 

Bibliography

Gianni Rogliatti, “Maranello, Ferrari e… la sua gente”, Edizioni del Puntografico, Comune di Maranello