Italy Considers Taking Over Defunct Auto Brands for Chinese Investment
The Italian government is reportedly considering a plan to take over the defunct auto brands Innocenti and Autobianchi, which are currently owned by Stellantis, and offer them to Chinese companies to encourage investment in setting up factories in Italy. This move comes as part of the government’s efforts to boost the domestic auto industry and attract foreign investment into the country.
The History of Innocenti and Autobianchi
Innocenti was known for producing an Italian version of the British Mini in the 1960s and 1970s before being acquired by Fiat, now a part of Stellantis. Autobianchi, a former Fiat unit, produced upmarket city cars like the A112 and Y10. Both brands ceased operations in the 1990s and have since remained dormant.
Government Action Under Consideration
According to reports, the government is planning to use a law passed in December to appropriate these unused brands, allowing them to be offered to companies, including foreign ones, interested in investing in or moving manufacturing activities to Italy. This strategy is aimed at revitalizing the country’s auto manufacturing sector and attracting new players.
Tensions with Stellantis
Italy’s Prime Minister Giorgia Meloni’s government has been in conflicts with Stellantis, the sole major automaker in the country, over the neglect of historic production sites in Italy. While engaged in talks to increase Italian production with Stellantis, the government is also looking to diversify the industry by bringing in a Chinese automaker.
Calls for Resurgence
During a recent event at Fiat’s Turin headquarters, Industry Minister Adolfo Urso reiterated the government’s call for Stellantis to revitalize its manufacturing activities in Italy. The unveiling of the Panda model, which is made in Serbia, emphasized the importance of boosting domestic production and maintaining the country’s automotive heritage.
In conclusion, the Italian government’s proposal to take over defunct auto brands and offer them to Chinese companies as a means of encouraging investment highlights its commitment to strengthening the local industry and attracting foreign players. By leveraging unused brands and promoting domestic manufacturing, Italy aims to revitalize its auto sector and position itself as an attractive destination for global automotive investments.