Lancia was founded on 29 November 1906 in Turin by Vincenzo Lancia and his friend Claudio Fogolin, both being Fiat racing drivers, as Lancia & C. The first Lancia automobile the "tipo 51" or 12 HP (later called Alfa) was made in 1907 and produced from 1908. Lancia Grew to become the second largest Europan company in the 1950s but tough competition from Alfa Romeo into their sector led to declining sales. In 1981 Lancia was fully acquired by Fiat (KEU). With Fiat's acquisition of Chrysler in 2009, Lancia and Chrysler have seen increased cooperation. Lancia and Chrysler will share the same platforms for 2011.