Italian Government May Transfer Discontinued Car Brands to Chinese Firms to Boost Manufacturing
TapTechNews July 15th news, according to a report by Reuters last Friday, the Italian government is considering taking over the discontinued car brands Innocenti and Autobianchi owned by Stellantis through a decree and transferring these brands to Chinese car companies to encourage them to establish factories in Italy.
TapTechNews note: Both Innocenti and Autobianchi brands were discontinued in the 1990s. The former was famous for producing the 'Italian version' of the British MINI car in the 60s and 70s and was later acquired by Fiat; the latter is also a Fiat subsidiary and used to mainly produce high-end cars.
It is reported that the Italian Minister of Industry has registered new trademarks for these two brands at the National Patent and Trademark Office, using patterns different from those registered by the Stellantis Group. According to a law passed last December and the implementation draft being reviewed, if brands that have not been used for at least five years are controlled by the government, they can be transferred to companies interested in investing in Italy or relocating manufacturing activities to Italy, including foreign companies.
The roads in Italy are filled with the oldest and most polluting cars in Europe, and the penetration rate of electric vehicles is far behind other European countries. In January this year, in order to change this situation, the Italian government plans to invest a whopping 930 million euros (currently about 7.368 billion yuan) to encourage people to abandon fuel cars and embrace electric vehicles.
In addition, in February this year, Michael Shu, general manager of BYD Europe, confirmed in an interview with Bloomberg at the Geneva International Motor Show that the company has had contact and discussions with the Italian government regarding factory construction. Previously, it was reported that the Italian government has already had contact with BYD Co., Ltd., and the local area hopes to introduce a second car manufacturer in addition to the European auto giant Stellantis.
Related reading:
'BYD Confirms Discussing Factory Construction with the Italian Government: Still Depends on Sales'
'Italy Plans to Spend 930 Million Euros to Promote Electric Vehicle Sales, and Low-income Families Can Get 13,750 Euros in Subsidies'