Alfa Romeo Automobiles S.p.A. is an Italian car manufacturer, founded as A.L.F.A. ("Anonima Lombarda Fabbrica Automobili", "Anonymous Lombard Automobile Factory") on 24 June 1910, in Milan. The brand is known for luxury vehicles and has been involved in car racing since 1911. The company was owned by Italian state holding company Istituto per la Ricostruzione Industriale between 1932 and 1986, when it became a part of the Fiat group. In February 2007, the Alfa Romeo brand became Alfa Romeo Automobiles S.p.A., a subsidiary of Fiat Group Automobiles, now Fiat Chrysler Automobiles Italy.