Giovanni Bastista and Matteo Ceirano left F.I.A.T. in 1901 to found Fratelli Ceirano & C. In 1903, Matteo left to found ITALA. In 1904 Giovanni Batista Ceirano transformed
Fratelli Ceirano & C. into
Società Torinese Automobili Rapid, using the name Rapid as a trademark. Production moved to a 50,000 square meters plant in
Barriera di Nizza, Turin, where 500 people worked. The initial share capital was 2,000,000 lire, which in 1905 amounted to 5,000,000. Annual production was 600 units per year. In the year 1911, 100 vehicles were produced. Around 1905 Giovanni Battista suffered poor health and retired to
Bordighera on the coast of
Liguria, so Rodolfo Chio Maggi was appointed chief designer while Giovani Battista Maggi and Alfonso Scott took over the management. During World War I the factory produced both trucks and armaments, up to 4,000 artillery shells per day. but the aftermath of the war meant that in 1921 the company was liquidated and absorbed by
S.P.A. (Società Piemontese Automobili), a company founded by Matteo Ceirano, and
Cyclecar Italiana Petromilli (C.I.P.). In 1925
Giovanni Agnelli converted the Rapid factory at Barriera di Nizza, Turin, into 'Officine Meccaniche Villar Perosa S.p.A.' (RIV) to manufacture ball bearings. In 1926 FIAT, headed by Agnelli, absorbed S.P.A. (Società Piemontese Automobili). ==Cars==