What is the SIlk-FAW joint venture?
The recent startup joint venture of Silk-FAW is one of many electric focused supercar companies in their attempt to capture the emerging market. Silk EV from the U.S. and FAW auto group of China, famous for their Hongqi luxury brand, joined forced on an ambitious goal of manufacturing a million electric vehicles by 2030.
This company is starting off on a powerful foot, aiming to seek industry recognition by creating a team of former professionals in the sports car business. Their new chief technology officer, Roberto Fedeli, comes from experience at BMW, Alfa Romeo, and Ferrari. Though he isn’t the only former Ferrari employee on staff, as the former CEO of the Maranello brand, Amedeo Felisa, has been appointed as a special advisor.
What does Silk-FAW plan on producing?
Setting up a company with a “dream team” of industry professionals is one task, the other is producing a world-class sports car. The first product that is set to come out of the joint venture is the Hongqi S9 electrified hypercar, that was unveiled at the Shanghai Auto Show last year. It will be exclusive at just 99 units and offered world wide at a price of $1.45 million USD.
Designed by Walter De Silva, famous for leading the styling teams for the Audi R8, VW Sirocco, and the Lamborghini Egoista concept, the Hongqi S9 also is starting off on a strong foot with a sophisticated shape for a global market.
The vehicle is under development as a plug-in hybrid, combining a V-8 engine with three electric motors to produce a total of 1,400 horsepower. The target performance figures are equally as eye-opening as the powertrain with the brand estimating a 0 to 60 mile per hour run in just 1.9 seconds, continuing up to a theoretical top speed of 249 miles per hour.
Why produce their hypercar in Italy?
The joint venture recently announced its finalized purchase of land in Reggio Emilia, Italy. Here, in this area home to Lamborghini, Ferrari, and Pagani, will sit their future production facility. Located close to iconic sporting brands and having new staff familiar with the area, likely including key suppliers, it’s a smart move by the joint venture.
As with the general state of the economy, these new facility plans have been delayed, with production of the S9 hypercar originally set for early 2023. Expected production likely will be delayed closer to 2024 though Silk-FAW has also committed to producing future electric vehicles in China under the luxury Hongqi brand.
Source: Reuters
