Not at all.
Carrozzeria Balbo was established by Alfonso Balbo in 1914, taking over business of the former Carrozzeria Ialiana Cooperativa (where, nost likely, he was an employee). He died still young in 1926 and the Carrozzeria Balbo was then managed by his fellow assistant Carlo Follis (one of the best friends of my grandfather, btw, but unfortunately I never met him) until 1954, when it closed.