Italian region wants answers from Silk-FAW over electric sports car plan

MILAN : Italy's Emilia-Romagna regional government will hold talks with Silk-FAW next week over fears the Sino-U.S. venture's plans to invest a billion euros to produce electric sports cars in the area might not go ahead.

Last year it picked the city of Reggio Emilia to build a production facility and a research centre, in an area known as Italy's"Motor Valley" which is home to brands including Ferrari, Lamborghini, Maserati and Ducati. Vincenzo Colla, head of economic development in the Emilia Romagna regional government, told Reuters he had set up a call with Silk-FAW executives for July 14 to assess the plan and whether the company had enough funding to proceed with promised investments a year after they were publicly announced.

"As of today financial flows have not been up to the needs," Colla said."We expect to see a financial roadmap to make this investment sustainable."

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