Silk-FAW, a three way partnership between Italian startup Silk EV and Chinese language auto big FAW, on Monday offered an replace on its plans to design and manufacture a spread of unique, high-performance automobiles for Chinese language luxurious automotive model Hongqi.
The corporate on Monday mentioned it’ll proceed with plans to speculate greater than 1 billion euros (roughly $1.02 billion) on the venture, which incorporates the institution of a plant on a web site close to Reggio Emilia, Italy, in addition to an R&D middle and headquarters.
Building on the positioning, situated near established efficiency marques like Ferrari, Lamborghini, Maserati and Pagani, will start in September.
Silk-FAW initially deliberate to have manufacturing of its first model, the S9 hypercar, up and operating by early 2023, although the date has been pushed again because of delays in buying the land for the plant, in line with Reuters. A brand new timeline wasn’t talked about.
The S9 was first proven throughout Auto Shanghai 2021, the place quite a lot of key specs have been additionally confirmed. The automotive will run a V-8-based hybrid powertrain able to delivering 1,400 hp and a pure electrical vary of about 25 miles. The automotive also needs to be capable of dash to 60 mph in below 2.0 seconds and attain a high pace of greater than 250 mph.
The S9 was designed by former Volkswagen Group design chief Walter de Silva, who has been employed by Silk-FAW to pen extra fashions for Hongqi, together with a rumored S7 supercar.
Simply 99 examples of the S9 are destined for manufacturing, every priced from about 1.5 million euros.
Vary-topping fashions just like the S9 will likely be constructed on the Italian web site. Different fashions, which will likely be electrical, will likely be in-built China.