The Italian government has signed a preliminary Memorandum of Understanding for a strategic partnership between the Italian company EuroGroup Laminations SpAa leader in the design, production and distribution of stators and rotors for electric motors and generators, and the Chinese company active in components for the automotive market, Hixih Rubber Industry Group. The announcement was made by the Ministry of Business and Made in Italy through an official note.
Italy-China Agreement
The agreement, it is also stated, was signed last August 1st at Palazzo Piacentini in the presence of Minister of Enterprise and Made in Italy, Adolfo Urso. “The agreement represents the first follow-up of the cooperation agreement between Mimit and the Ministry of Industry and Information Technology of the People’s Republic of China, prepared during Minister Urso’s mission to Beijing and then signed during the recent mission of the Prime Minister, Giorgia Meloni”we read further in the note.
What does the agreement provide?
Under the terms of the agreement, the parties will work on an industrial partnership, based on a joint venture under the control of EuroGroup, “to further stimulate growth in the Chinese market, in order to increase commercial penetration in the country, and in particular with Chinese electric car manufacturers“. Among the initiatives envisaged by the agreement is also the creation of a new research and development center for innovative technologies located in the industrial area of the Hixih group in Shandong and the location of a new high-tech industrial plant dedicated to the production of motor cores for New Energy Vehicle manufacturers.
Urso’s words
“The agreement between EuroGroup and Hixih fully complies with the government objectives we have set ourselves in the field of green technology and electric mobility – stated Minister Adolfo Urso – Others will follow in the coming days to mark the new course outlined by the Three-year action plan and from the cooperation agreement between the two Ministries, signed during the Prime Minister’s mission to China”.
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