Aehra Names Impeto SUV and Estasi Saloon as It Seeks Investment for New Factory
Italian EV Start-Up Aehra Seeks Funding for €1.2 Billion Plant
Italian electric vehicle (EV) start-up Aehra has revealed the names of its first two cars, the Impeto SUV and Estasi saloon, as it moves forward with its plans for production. The company has submitted a business plan to Italy’s Ministry of Industry for a 207,000 square foot factory in Mosciano Sant’Angelo, located in the Abruzzo region.
Strategic Location and Partnerships
Aehra has chosen Mosciano Sant’Angelo due to its proximity to Italy’s carbon fibre industry and the expertise provided by the nearby University of L’Aquila. The company’s founder and CEO, Hazim Nada, stated that this location is crucial for the development of the carbon fibre monocoque used in their vehicles, which is a world-first for mainstream production cars. Additionally, Aehra has established strategic relationships with the University of L’Aquila and the Polytechnic of Milan, both of which will play a vital role in the advancement of their EV technology.
Job Creation and Government Investment
Aehra plans to begin construction on the €1.2 billion (£1bn) plant later this year. The company anticipates that the factory will create 540 jobs locally and an additional 110 positions at its headquarters in Milan. Aehra’s bid for government funding aligns with Italy’s efforts to support its automotive industry.
Italian Automotive Industry Challenges
The Ministry of Industry has previously taken action against automakers that do not meet certain criteria. For example, Alfa Romeo was forced to rename the Milano to Junior because it was manufactured in Poland. The ministry also seized a shipment of Fiat Topolinos built in Morocco due to the presence of the Italian flag. Furthermore, the Italian Competition and Markets Authority recently fined DR and Evo, Italian sibling brands, €6 million (£5.1m) for falsely marketing Chinese-built cars as being made in Italy.
With its ambitious plans and strategic partnerships, Aehra aims to make a significant impact in the EV market with its Impeto SUV and Estasi saloon, offering ranges of up to 497 miles.
