In 1950 the Spanish INI concern, Spanish banks and Fiat established the firm named Seat, which in 1953 started the production of the Seat 1400 under the Fiat license, like the majority of its vehicles produced for the next 30 years. In 1981 Fiat withdrew from this company. In 1984 Seat showed its first Spanish model named Ibiza. In 1986, Volkswagen took over 75% and in 1990 the remaining 25% of shares of the Seat company.