Skip to main content
Sister Publication Links
  • Automotive News
  • Automobilwoche
  • Automotive News Canada
  • Automotive News China
Subscribe
  • Subscribe
  • Newsletters
  • Login
  • HOME
    • Latest news
    • Automakers
    • Suppliers
    • New Product
    • Environment/Emissions
    • Sales By Market
    • On The Move
    • Auto Shows
    • Munich Auto Show
    • Geneva Auto Show
    • Paris Auto Show
    • Beijing Auto Show
    • Shanghai Auto Show
  • Features
    • Long Read
    • Interview of the Month
    • Focus on Electrification
    • Focus on Technology
    • Segment Analysis
    • Cars & Concepts
    • Supplier Spotlight
    • Europe By The Numbers
  • Opinion
    • Blogs
    • Commentary
    • Guest columnists
  • Photos
    • Photo Galleries
    • Geneva Photo Gallery
    • Beijing Photo Gallery
    • Frankfurt Photo Gallery
    • Paris Photo Gallery
    • Shanghai Photo Gallery
  • Podcasts
  • Car Cutaways
  • EVENTS
    • ANE Congress
    • ANE Rising Stars
    • ANE Eurostars
    • Browse photos from the 2021 awards ceremony
  • More
    • Publishing Partners
    • Social Media
    • Contact Us
    • Media Kit
    • About Us
    • Capgemini: Securing the industry's future through a radical rethink
    • Capgemini: Succeeding with the automated driving journey through AI
    • Capgemini: Toyota and Capgemini leaders on how OEMs can handle industry changes and succeed
    • HEXAGON: Plugging into data is the only way to make winning EVs
    • TUV Rheinland: Battery testing center for large battery packs and more
    • TUV Rheinland: Ideas, services and certifications for smart mobility
    • TUV Rheinland: Testing of automated and autonomous vehicles on test tracks
    • Toyota Europe
    • UFI Filters
    • Facebook
    • Instagram
    • LinkedIn
    • Twitter
MENU
Breadcrumb
  1. Home
  2. Automakers
July 25, 2022 03:46 PM

Silk-FAW confirms plan to build electric sports cars in Italy

Silk-FAW plans to develop and produce electric and hybrid hypercars in China and in Italy under the Hongqi brand.

Reuters
  • Tweet
  • Share
  • Share
  • Email
  • More
    Print
    Silk-FAW S9 plug-in hybrid

     Silk-FAW plans to build the S9 plug-in hybrid hypercar in a new plant in Reggio Emilia.

    MILAN -- Silk-FAW, a start-up of U.S. automotive engineering and design firm Silk EV and Chinese automaker FAW, said it would press ahead with a plan, worth over one billion euros ($1.02 billion), to build electrified cars in Italy.

    Silk-FAW will finalize the purchase of the land in the city of Reggio Emilia where the production site will be built starting Aug. 5, it said in a statement on Monday after attending a videoconference with local authorities.

    Silk-FAW said it would hold the opening ceremony for the construction of the site, which will also include the company's headquarters and a research center, in early September.

    More on Silk-FAW's plans

    Silk-FAW to build sports-car plant in Italy

    Silk-FAW readies 1,400-hp S9 plug-in hybrid hypercar in Italy

    Hypercar styled by VW's former design boss de Silva unveiled by FAW, U.S. startup

     

    Earlier this month Italy's Emilia-Romagna regional government sought reassurances from Silk-FAW amid worries by the local authorities that the plan might not go ahead.

    Silk-FAW board member Li Chongtian confirmed FAW's full support to the project.

    "Silk and FAW are committed to the success of our partnership," he said in the statement, adding the group was working to ensure the joint venture had the necessary resources to execute its business plan.

    Chongtian is head of FAW Capital Holding, the unit in charge of FAW's external investments.

    Silk-FAW plans to develop and produce electric and hybrid luxury hypercars in China and in Italy under the Hongqi brand.

    Last year it picked the city of Reggio Emilia to build its facility, in an area known as Italy's "Motor Valley," which is home to brands including Ferrari , Lamborghini, Maserati and Ducati.

    Production was expected to start at the beginning of 2023 but the plan has yet to make progress, with the company citing problems with the mortgage needed to buy land for the plant.

    The Emilia-Romagna regional government and the city of Reggio Emilia said in a separate statement that Monday's videoconference was "necessary and important" but added they were still waiting to receive minutes of the meeting signed by Silk-FAW executives confirming their commitments.

    RECOMMENDED FOR YOU
    Tesla aims for 2 million-unit run rate by end of 2022, Musk says
    Recommended for You
    Tesla Model Y
    Tesla aims for 2 million-unit run rate by end of 2022, Musk says
    An STM worker handles a wafer with multiple chips
    Chipmakers have a message for automakers: Your turn to pay
    Arrival Uber car concept
    EV startup Arrival will delay bus and car project trials to cut costs, report says
    Sign up for free newsletters
    EMAIL ADDRESS

    Please enter a valid email address.

    Please enter your email address.

    Please verify captcha.

    Please select at least one newsletter to subscribe.

    You can unsubscribe at any time through links in these emails. For more information, see our Privacy Policy.

    Get Free Newsletters

    Sign up and get the best of Automotive News Europe delivered straight to your email inbox, free of charge. Choose your news – we will deliver.

    You can unsubscribe at any time through links in these emails. For more information, see our Privacy Policy.

    SUBSCRIBE TODAY

    Get 24/7 access to in-depth, authoritative coverage of the auto industry from a global team of reporters and editors covering the news that’s vital to your business.

    SUBSCRIBE NOW
    Connect with Us
    • Twitter
    • Facebook
    • LinkedIn
    • Instagram

    Founded in 1996, Automotive News Europe is the preferred information source for decision-makers and opinion leaders operating in Europe.

    Contact Us

    1155 Gratiot Avenue
    Detroit MI  48207-2997
    Tel: +1 877-812-1584

    Email Us

    ISSN 2643-6590 (print)
    ISSN 2643-6604 (online)

     

    Resources
    • About us
    • Contact Us
    • Advertise with us
    • Advertise with Us
    • Ad Choices Ad Choices
    • Sitemap
    Awards
    • Rising Stars
    • Eurostars
    • Leading Women
    Legal
    • Terms and Conditions
    • Privacy Policy
    • Privacy Request
    Automotive News Europe
    Copyright © 1996-2022. Crain Communications, Inc. All Rights Reserved.
    • HOME
      • Latest news
      • Automakers
      • Suppliers
      • New Product
      • Environment/Emissions
      • Sales By Market
      • On The Move
      • Auto Shows
        • Munich Auto Show
        • Geneva Auto Show
        • Paris Auto Show
        • Beijing Auto Show
        • Shanghai Auto Show
    • Features
      • Long Read
      • Interview of the Month
      • Focus on Electrification
      • Focus on Technology
      • Segment Analysis
      • Cars & Concepts
      • Supplier Spotlight
      • Europe By The Numbers
    • Opinion
      • Blogs
      • Commentary
      • Guest columnists
    • Photos
      • Photo Galleries
      • Geneva Photo Gallery
      • Beijing Photo Gallery
      • Frankfurt Photo Gallery
      • Paris Photo Gallery
      • Shanghai Photo Gallery
    • Podcasts
    • Car Cutaways
    • EVENTS
      • ANE Congress
      • ANE Rising Stars
      • ANE Eurostars
        • Browse photos from the 2021 awards ceremony
    • More
      • Publishing Partners
        • Capgemini: Securing the industry's future through a radical rethink
        • Capgemini: Succeeding with the automated driving journey through AI
        • Capgemini: Toyota and Capgemini leaders on how OEMs can handle industry changes and succeed
        • HEXAGON: Plugging into data is the only way to make winning EVs
        • TUV Rheinland: Battery testing center for large battery packs and more
        • TUV Rheinland: Ideas, services and certifications for smart mobility
        • TUV Rheinland: Testing of automated and autonomous vehicles on test tracks
        • Toyota Europe
        • UFI Filters
      • Social Media
        • Facebook
        • Instagram
        • LinkedIn
        • Twitter
      • Contact Us
      • Media Kit
      • About Us