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CLASS

FAW project for the car of the future, the Region works on it

May 20, 2020


Abstract : The assessor for the Development and work of the Emilia-Romagna region, Vincenzo Colla, has drafted the regional law on attractiveness in order to simplify the start of the project concerning the production of a super electric car by the largest Chinese automotive group.

MILAN, May 15 (Class Editori) - The first engineers and designers will be soon hired in order to reach almost 1,000 employees, according to the business plan, even though no decision regarding the new factory location has been taken yet; the factory will be the core of the investment in Italy, of more than €1 billion worth, confirmed by the largest Chinese automotive producer.

FAW Group, together with the engineering and design start-up Silk Ev, has decided to start, at the heart of the Motor Valley located alongside Via Emilia, the design, engineering and production of high-end electric and plug-in cars, starting from sports and super-sports ones.

“The decision concerning where production plants will be located will be taken in the next months and the agreement will allow to create thousands of workplaces in Italy, Europe and China. The next recruitments will be occurring withing the end of the first semester 2020. The Italian choice is part of a wider investment plan, which provides for a further 1 billion and 300 million euros allocated in China”, FAW and Silk Ev have declared.

The bank partner of the new company should be Rothschild & Co., at least at the beginning. The first step will be indeed the investment in an Innovation, Research & Development Centre and in one Centre dedicated to design.

“Emilia-Romagna region is honoured of the attention that a great automotive group as FAW has paid to it, which has indeed decided to choose our territory for its first investment outside Chinese borders”, Vincenzo Colla has underlined, the assessor for the Development and work of the Emilia-Romagna region. “this has not happened by chance, because this is the engines territory, the global site of the Motor Valley; it is the place where hearts rumble instead of beating, where people’s passion and creativity have turned dreams into reality”.

Colla has been committed to letting the administration supporting the investment project, through the Contact point coordinated by ART-ER, the Regional Agency for research, innovation and internationalisation, aiming at supporting investors and possibly activating the Regional Law N. 14 of 2014 on attractiveness. This provides large amounts of public money to the project, subject to certain conditions, which the FAW project seems to meet.

FAW is the biggest Chinese car producer with almost 4 million vehicles sold in China and $90 billion of turnover. Silk EV is a company specialised in engineering and car design with establishments in China, the USA and Emilia-Romagna region (Italy).

The formal announcement was noticed at the end of April, during an on-line ceremony and after a joint venture, which has been signed between the two companies, with the aim of developing a new ecosystem of technologic innovation and cutting-edge automotive engineering by merging Italian culture and knowledge.

“Emilia-Romagna is one of the most advanced European regions in terms of institutional, economic and cultural relations with China. The fact that today, FAW and Silk EV are looking at this territory in order to create a new electric hypercar is a further demonstration of how the industrial district in Emilia-Romagna is an absolute reference point for the automotive and motorcycle sector worldwide”, as Colla has explained.

“The focus on the most advanced technologies and research, green development, the intention to work for the study and the implementation of electric and plug-in cars production represent that challenge which, as Emilia-Romagna region, we have established for the next years. A sustainable development towards which also our automotive supply chain has started to operate since a long time”, as Colla has concluded.

(Source: Class Editori)

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