The Italian ITB Auto may move forward to take over a decommissioned components factory for the automotive sector in northern Italy, to produce Chinese electric city cars with an investment of around €100 million.
The announcement was made by the Italian Ministry of Industry, which oversaw the negotiations regarding the future of the Grugliasco factory, near Turin, currently owned by the American automotive components company, Lear Corporation.
The production unit is one of many suppliers severely affected by the collapse of automotive production in Italy, which last year fell to its lowest level in nearly 70 years.
ITB’s plan for the factory includes the production of 20,000 vehicles per year and the hiring of 200 to 250 of the 376 workers from the Lear Corporation factory.
ITB hopes to finalize the agreement by the end of 2025 and begin production in the first quarter of 2026.
