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De Tomaso Brand Heads for China
Italy's fabled De Tomaso supercar brand has been sold to a Hong Kong investment fund that intends to use it on vehicles built in China, Automotive News Europe reports.
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Italy's fabled De Tomaso supercar brand has been sold to a Hong Kong investment fund that intends to use it on vehicles built in China, Automotive News Europe reports.
The decision eliminates 800 jobs at De Tomaso's factory in Turin.
De Tomaso most recently filed for bankruptcy in July 2012. Its brand was put up for bid two months later. Unions had hoped to find an industrial buyer to preserve local jobs. But a union official tells ANE that winning bidder Team Ventures plans to build vehicles in China.
De Tomaso is best known for its Pantera and Mangusta two-seat supercars.