Knight Industries is the place where K.I.T.T. and before him, K.A.R.R. were created. Originally founded and headed by Wilton Knight, Knight Industries was a research lab which created advanced technology, including the two artificially intelligent supercars.
A band of technology theives, headed by a woman named Tanya tried to steal Wilton's secrets and sell them on the black market. This is why Wilton Knight moved his operations to his mansion grounds to try and evade Tanya and her gang. As it turned out Tanya was the one who also near-fatally shot Michael Long, who was taken in by Wilton Knight and saved, to become Michael Knight who is teamed up with Wilton's second supercar, K.I.T.T.