1 billion euro investment to produce full electric and plug-in high-end cars in the Motor Valley
FAW and Silk EV choose Emilia-Romagna, for their business. The future is here, in the Motor Valley of Emilia-Romagna.
The Chinese FAW Group, the largest car manufacturer in Asia and the American Silk EV are ready to carry out an investment project of one billion euros for the creation of an innovative hub for the production of cars, with high-end full electric and plug-in. Today, the companies confirmed the investment, signing a joint venture. The cars will be conceived and developed in Emilia-Romagna, where Silk EV has its Headquarters, while the large-scale production will take place both in Emilia-Romagna and in Changchun, where FAW’s Headquarters are located. The announcement came this morning during an institutional video conference meeting, attended by Stefano Bonaccini, President of the Emilia-Romagna Region, the President of FAW, Xu Liuping, and the President of Silk EV, Jonathan Krane.
Silk EV and FAW will build a futuristic innovation center, completely interconnected, as well as production facilities in Emilia-Romagna: it will be a real experience center within the Motor Valley.
The Motor Valley is a unique industrial district in the world with 16,500 companies and over 90,000 employees, with an annual turnover of 16 billion and an export of 7 billion. Famous brands from all over the world have their roots and headquarters here: Automobili Lamborghini, Dallara, Ducati, Ferrari, Haas, Magneti Marelli, Maserati, Pagani, and Toro Rosso.