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De Tomaso sold to China based Hotyork Investment Group

By Rigval on 26 Feb 2012

Attached Image: dt3.jpg
- De Tomaso Deauville Concept-

It seems the revival of Italian car-maker De Tomaso has been stalled since December of 2011. But like every other failed or going to fail car manufacturer these days (think MG Rover and Saab) some company or comglomorate from China is ever ready to swoop in and pick up the pieces.

Attached Image: dt1.jpg

In 2009 the ailing De Tomaso company was bought by former Fiat heavyweight Gianmario Rossignolo. He had announced that the new and improved De Tomaso would launch three new models. A luxury sedan, a luxury SUV Crossover type of vehicle and what most motorheads are eager to see, a new De Tomaso Pantera (a car that I have been lucky to see it in action). Somehow, within a span of two years, the new management had run out of money.

Running out of money is something that happens quite often when it comes to manufacturers recently. This time it is the Hotyork Investment Group that will bail out De Tomaso. According to news sources, the deal was concluded in December of 2011 and Hotyork have announced that they will take the De Tomaso brand globally and that they have the financial capabilities to move the company forward. Don't ask what the Hotyork Investment Group does as I can't even find anything concrete of what type of investment the group actually invests in.

But it seems all is not so rosy as Ithe Italian portal 247.libero.it reports that production was to have started at Pininfarina's old plant in Grugliasco but the company has not paid its employees since December of last year. The workers union, trade ministry of Italy, the previous owners Rossignolo as well as Hotyork's representatives are in the midst of trying to sort out all trade and labour issues in relation to the sale and purchase of De Tomaso as well as the fate of the workers. Then again, who's to say the new owners won't transfer tooling and make a new De Tomaso in China?

The moral of this story is that while you can actually take over a bankrupt car company in a country that isn't yours, but there are tons of issues that would arise from it. On a personal note I wonder if a real De Tomaso would arise out from the ashes. The last I heard MG, now owned by another car manufacturer from China, recently launched a new model called the MG6, and it isn't a that much of an MG. So the upcoming De Tomaso cars may not be much of a De Tomaso.

Attached Image: dt2.jpg



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Rigval
Written by Rigval
Born in 1972. Married with a kid. Loves B-road drives and have driven cars from the 1950s to date.



 
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