ATS was formed by a group of automotive engineers, including Carlo Chiti and Giotto Bizzarrini, who aimed to create a competitor to Ferrari in both racing and street cars. With funding from Scuderia Serenissima's Count Giovanni Volpi, they developed the ATS 2500 GT, a mid-engine sports car with a Franco Scaglione-designed bodywork built by Allemano. The car was powered by a mid-mounted 2.5 L V8 engine, capable of producing 245 hp and achieving a top speed of 257 km/h. Only 12 cars were reportedly built, and the model did not gain much fame or popularity. However, the engine was later developed into the Alfa Romeo Tipo 33 engine by Chiti at Autodelta.