The company was founded in 1983 by engineer Fulvio Maria Ballabio, a former Formula Two, IndyCar Series and Offshore racer.

Powered by a Lamborghini V-12 engine, the name is a celebration of the hundredth anniversary of the Automobile Club de Monaco (founded in 1890).

Its design was derived from two cars: the ALA 50 powered by methane and liquefied petroleum gas and the Quadrifuel Carlo Chiti powered by an engine derived from the Alfa Romeo 8C coupe combined with an electric motor fitted to the front axle[6] using methane, ethanol, liquefied petroleum gas and gasoline.

[6] On 25 March 2012, Monte-Carlo Automobiles released a new car named Monte Carlo/BRC W12 in collaboration with BRC Racing Team.

In 2014, the company unveiled a sports car called the Montecarlo Automobiles Rascasse equipped with a mid-mounted, BMW-sourced 5.4-liter V12 engine.