Silk-FAW Automotive was a joint venture formed in 2021 by FAW Group and Jonathan Krane’s Silk EV to develop ultra-luxury Hongqi-branded sports cars in Italy’s “Motor Valley” alongside China. Headquartered in Reggio Emilia with design led by Walter de Silva and senior advisors including former Ferrari CEO Amedeo Felisa, the venture announced over €1 billion of planned investment and previewed its range with the Hongqi S9 plug-in-hybrid hypercar…