Silk-FAW, the joint venture between Silk EV, an international automotive engineering and design company, and FAW, one of the largest Chinese automotive manufacturers, will set up the new production site for high-end electric cars in Reggio Emilia.
The new production and innovation Center will be built in an area of 360,000 square meters according to ecological parameters and without new land consumption. The industrial project  includes investments for a billion euros and up to a thousand jobs in the Motor Valley of the Emilia-Romagna Region, one of the most competitive ecosystems in Italy and in Europe. In the Motor Valley ecosystem, Reggio Emilia plays a crucial role thanks to its local competencies in the mechatronics and robotics fields.
Silk-FAW was formed to develop a series of ultra-luxury, high-performance, new-energy sports vehicles targeting China and global markets. The joint venture is the first investment between China and Italy in the super-premium auto segments and marks an important milestone in the Belt & Road initiative for China, Italy, and the global automotive industry.
Silk-FAW has launched the new all-electric and hybrid luxury car Hongqi S9 with a total 1,400 hp plug-in hybrid power supply capable of a sprint from 0 to 100 km/h in just under two seconds.

Silk-Faw has opened its headquarters at the Reggiane Innovation Park, which hosts the first nucleus of professionals, about 70 people. The Innovation Park is a territorial hub that aims at attracting and gathering enterprises, researchers and investments through its logistics, technologic. Planning activities are currently underway for the preparation of a stable research laboratory at the Innovation Park.

The official inauguration of the headquarters was held in June 2021, on the occasion of the award ceremony of the architectural competition for the construction of the production site. The awards ceremony was attended by the President of Silk-Faw, Jonathan Krane, who enthusiastically commented on the futuristic project and the choice to settle in Reggio Emilia, preferred to other competing cities for “its people, its history, and its working ethic” and then added, “Reggio represents one of the most competitive ecosystems in the Region, both for its central position within the Motor Valley and its local competencies in mechatronics and robotics”.

In particular, in times when the competitiveness among territories in attracting investments is a central issue, the presence of the Reggiane Innovation Park has been one of the most important elements that influenced the Sino-American company to choose Reggio Emilia.
The Mayor of Reggio Emilia Luca Vecchi declared “Being able to attract an investment of this magnitude represents a great opportunity, an epochal fact that positions Reggio Emilia as a European city of innovation and sustainable development center of gravity in the Motor Valley. An investment that will bring jobs, strengthening the production system but above all a great opportunity to become more and more an international and attractive city".