FAW from China to the Motor Valley with over one billion of investments

FAW from China to the Motor Valley with over one billion of investments05/14/2020 - FAW, the leading Chinese automotive company, chooses Emilia-Romagna to build high-end electric and hybrid cars. This is the first large foreign investment of the Chinese brand and the amount is over one billion euros. The Asian company will collaborate with Silk Ev, start-up in engineering and design with formal headquarters in USA but operating in Emilia-Romagna.

Lei Ping, VP GM of the FAW Group commented: ''Today we want to celebrate an important step in the collaboration between FAW, the Province of Jilin, the Emilia-Romagna Region and Silk EV. The Emilia-Romagna Motor Valley is the birthplace of many world-famous hypercars and from here we want to start for the development strategy of this project. Today the collaboration between the Italian and Chinese automotive ecosystem is further strengthened''. The Emilia-Romagna Region chaired the signing of the agreement. The announcement was made during an online meeting with the participation of the Chinese authorities, the Ministry of Foreign Affairs and the Councilor for Economic Development of Emilia-Romagna, Vincenzo Colla

The investment will focus on the design, engineering and production of high-end electric and plug-in, sports and super sports cars. The settlement of the production plants will take place in the coming months and the agreement will allow for the creation of thousands of jobs in Italy, Europe and China. The first hirings are expected by the end of the first half of 2020.

The Emilia-Romagna Region therefore confirms its reputation as an open and collaborative territory, as underlined by the Councilor Vincenzo Colla, and is ready to support the project by activating the services to support the attraction of investments coordinated by ART-ER and possibly the Regional Law 14/2014 on attractiveness. In the past, many leading automotive companies and part of foreign groups (e.g. Lamborghini, Ducati, Avl, Fev, Borgwarner) have been supported by the Region to settle or expand in Emilia-Romagna.

More info on mechanical engineering and automotive in Emilia-Romagna available on http://www.investinemiliaromagna.eu/en/news/2020/05/Invest_in_mechanical_engineering_in_ER.asp











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