According to reports on Italian website La Repubblica, the new owner of De Tomaso – Chinese holding company Consolidated Ideal TeamVenture – plans to produce cars under the famous name in China, threatening 900 potential jobs in the city of Turin, where a range of new models including the Deauville crossover was due to enter production. Many of the Italian car-maker’s workforce remain unemployed since the company entered bankruptcy most recently in 2012, causing much controversy in the Italian press.
News of the €1.05-million sale comes only several weeks after a deal reportedly worth twice as much, that also preserved many local jobs, fell through. It is reported that favoured bidder L3 Holdings was unable to fulfil its financial obligations.
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