U.S.-Chinese challenger to Ferrari picks Italy to debut $1.8M hypercar

REGGIO EMILIA, Italy – The U.S.-Chinese startup Silk-FAW will debut the production version of its S9 plug-in hybrid hypercar on the sidelines on the Milan Design Week in early September.

The S9 is expected to have about 1,400 hp and cost around 1.5 million euros ($1.8 million).

Silk-FAW, a joint venture between Chinese automaker FAW and Silk EV, a U.S.-based automotive startup, has recruited former Ferrari and Lamborghini top executives to help the company build and sell cars that will rival Ferrari and Lamborghini supercars.

The S9 will be built at the joint venture’s new factory in Italy’s so-called “Motor Valley” in Reggio Emilia. The plant will be 44 km (27 miles) northwest of Maranello, where Ferrari is based and 51 km west of Lamborghini’s headquarters in Sant’Agata Bolognese. The Maserati luxury brand and motorcycle maker Ducati also have operations in the area.

The S9 will be unveiled during the Milan Design Week first day on Saturday, Sept. 4. Silk-FAW, previewed the S9 at the Shanghai auto show in April.

The car was designed by Volkswagen Group's former styling chief Walter De Silva. It is expected to go into production at the beginning of 2023.

The S9 will use a newly developed 4.0-liter V-8 gasoline engine capable of about 880 hp, with electric turbocharging. Two electric motors increase its power to about 1,400 hp.

The S9 is part of a range of cars that Silk-FAW is developing under the Hongqi bran. The joint venture plans to build a full range of models in Italy and China.

Besides the S9, the less expensive S7 range will also be produced in the Italian factory. The range is likely to comprise an SUV, a coupe and, later, a convertible.

The S9 will be the only plug-in hybrid in the range. All the other models will be full-electric cars.

The smaller S5 and S3 ranges will be built in China in Changchun, where FAW's headquarters are located, but sold globally.

FAW has joint ventures in China with VW, Toyota and Mazda.

Its Hongqi brand (Chinese for Red Flag) was launched by FAW in 1958 and is regarded as a symbol of China's ruling Communist Party.

Silk-FAW is investing an initial 1 billion euros ($1.2 billion) to develop the S9 and S7, as well as to build a production facility and r&d center in Reggio Emilia.

Construction work is expected to begin by the end of the year. The 320,000 square-meter complex will also include a small test track.

Silk-FAW Chairman Jonathan Krane, a U.S. financial specialist, is recruiting a team of former top managers from Ferrari and Lamborghini.

Silk-FAW’s top executives include:

• Roberto Fedeli, a veteran of Ferrari, BMW, Alfa Romeo and Maserati. Fedeli is the company’s chief technology officer and will also oversee Silk-FAW's innovation centers in Italy and China and lead the company's work on autonomous driving, connectivity and electrification technologies.
• Carlo Della Casa, who is product development director. Della Casa’s 30-year automotive career includes stints as Ferrari’s head of vehicle engineering, McLaren Automotive’s chief technical officer and Lamborghini’s chief technical director.
• Davide Montosi is software and electronic technologies director. Montosi worked for Ferrari and Maserati during the time Maserati was controlled by Ferrari and also for McLaren.
• Katia Bassi, a former Aston Martin and Lamborghini executive who joined Silk-FAW as chief marketing and communication officer. Bassi is set to soon be promoted to chief operating officer.

Amedeo Felisa, who was Ferrari CEO between 2008 and 2016, is an adviser to Silk-FAW.

Former VW Group executive de Silva designed Silk-FAW an external consultant and has not joined the automaker’s staff. De Silva, who created the single-frame grille used by Audi during his career with VW Group, retired from VW in 2015.

Italian racecar specialist Dallara Automobili is cooperating with Silk-FAW on the aerodynamic development of its models, as well on engineering and testing the S9’s carbon fiber chassis.