FAW changes its mind about producing the Hongqi S9 in Italy
Chinese automaker FAW no longer intends to localize the production of its Hongqi S9 hypercar in the famous Motor Valley in Italy, Reuters reports referencing documents published by Silk-FAW Partnership.
The partnering companies had originally planned to construct a whole new industrial complex in Reggio Emilia, Emilia-Romagna Region. This area received the nickname ‘Terra dei Motori’ thanks to the sheer abundance of automotive businesses concentrated there, including such highlights as Ducati, Ferrari, Lamborghini and Maserati.
Last year, the media reported that negotiations succeeded for a land plot where the complex was to be built. The total investment was estimated at more than €1 billion.
Per Reuters, Silk-FAW Partnership currently intends to quit the agreement. Inside sources are adding that the activities of the enterprise attracted the attention of Italian courts, who are allegedly suspicious about the deal it concluded with the government. According to that deal, the authorities agreed to provide state funding to the amount of €38 million for the construction.
An early pre-production variant of the Hongqi S9 debuted two years ago. Its exterior was polished by none other than the renowned Walter da Silva, while its powertrain incorporated a V8 along with three electric motors. Back when it was revealed, the company claimed the car would make at least 1,400 horsepower (1,044 kilowatts) and sprint to 100 km/h (62 mph) in 1.9 seconds. The top speed was estimated above 400 km/h (248 mph). If it were ever to reach production, the hypercar would also officially become China’s most expensive light passenger vehicle in history.
Editor Andrew Raspopov
Source:Forma car News
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