Founded as a Rifle manufacturer in 1864, the company diversified into bicycles in 1894. The first Steyr car was launched in 1920 engineered by Hans Ledwinka. The company changed its name to Steyr-Werke AG in 1924. Another Austrian company, Austro-Daimler-Puch, formed a merger with Steyr in 1934 to create Steyr-Daimler-Puch. After WWII Steyr made an agreement with Fiat to produce its own version of the Fiat 500, as well as other Fiat models. A range of off-road vehicles was also engineered including the Haflinger and Pinzgauer.