ROME, July 12 (Reuters) – Italy’s government is consider ing taking over by decree defunct auto brands owned by Stellantis (STLAM.MI), opens new tab, and offering them to Chinese companies to encourage them to set up factories in Italy, Il Sole 24 Ore daily reported on Friday.
The plan would involve the Innocenti and Autobianchi brands, both shut down in the 1990s.
Innocenti was famous in the 1960s and 1970s for producing an Italian version of the British Mini, before it was taken over by Fiat
Il Sole said the government’s appropriation would be made possible under a law passed in December and a draft implementing decree, under examination by the Court of Auditors, concerning brands that have been unused for at least five years.
Once under government control, they could be given to “companies, including foreign ones, that intend to invest in Italy or move to Italy manufacturing activities located abroad,” the law says.