According to Reuters, on August 6, an Italian person familiar with the matter said that negotiations between the Italian government and China’s Dongfeng Motor Group on building a factory in Italy have entered the final stage.
Photo source: Dongfeng Motor Group.
Currently, there is only one large automaker in Italy-Stellantis (which owns 14 brands including Fiat and Alfa Romeo).
This negotiation with Dongfeng Motor is part of Italy’s efforts to attract other automakers.
According to sources, the Italian government may participate in Dongfeng Motor Group’s investment with a minority stake.
In addition, the potential deal may also involve other key investors, including companies in the Italian auto parts industry.
The Italian government hopes to increase the country’s annual domestic car production to 1.
3 million vehicles from less than 800,000 last year, and has been negotiating with Stellantis to increase the group’s annual production in Italy to 1 million vehicles by 2030.
The last time Stellantis Group achieved this goal was in 2017.
, Italy has also been negotiating with other carmakers, including China’s Chery Automobile, about potential investments in the country.
Last week, Italian Prime Minister Giorgia Meloni visited China for the first time since taking office in 2022 to strengthen cooperation with China, the world’s second-largest economy, and restart trade relations after Italy withdraws from the Belt and Road Initiative.
The two countries signed a three-year action plan and several memorandums of understanding.
, In addition to cooperation in complete vehicles, the main cooperation announced by Italy and China also includes electric vehicle parts and renewable energy.
In terms of electric vehicle parts, Milan-based Italian motor parts manufacturer EuroGroup Luminations has signed a preliminary strategic cooperation agreement with Chinese auto parts manufacturer Hixih Rubber Industry Group, aiming to establish a joint venture controlled by EuroGroup Luminations.
EuroGroup Luminations, which specializes in producing stators and rotors, two key components in motors and generators, said the cooperation with Huaqin aims to further stimulate its growth in the Chinese market to increase commercial penetration, especially to strengthen cooperation with Chinese electric vehicle manufacturers.
, At the Huaqin Rubber Industry Group Industrial Base in Shandong Province, a new innovative technology research and development center will be established and a new high-tech industrial factory will be built to produce motor cores for new energy vehicle manufacturers.
In terms of renewable energy, Milan-based Bee Solar signed a cooperation agreement with China Huasheng New Energy Technology Co., Ltd. in the field of photovoltaic.
Bee Solar plans to leverage Huasheng’s technology and expertise to establish a photovoltaic production center in Italy.
Construction of the center is expected to begin in March 2025.
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