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Silk-FAW Announces Appointment Of Amedeo Felisa As Special Advisor To The Executive Chairman And Member Of The Senior Advisory Board

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Former CEO and Board Member of Ferrari Worldwide will work with the Executive Chairman and senior management team of SILK-FAW to drive the China and global roll-out of the Hongqi 'S' series of ultra-luxury, new energy sports vehicles

MODENA, Italy and CHANGCHUN, China, April 28, 2021 /PRNewswire/ -- Silk-FAW, a leading global manufacturer of ultra-luxury, new energy sports vehicles announced today the appointment of Amedeo Felisa as Special Advisor to the Executive Chairman and Member of the Senior Advisory Board. Mr. Felisa will be involved in setting global strategy for the Company and will provide oversight on all elements of the execution of the Company's business plan.

Mr. Felisa is the former CEO and a Board Member of Ferrari Worldwide, where he spent over 26 years of his career. During his time at Ferrari, he was responsible for many iconic models and the global growth of the Ferrari business. He has over 40 years of experience in the high-performance and luxury automotive industry and began his career at Alfa Romeo.

"We are delighted to welcome Amedeo Felisa to the SILK–FAW team," said Jonathan Krane, Executive Chairman. "Amedeo is one of the greatest automotive executives in the world and has a reputation for producing a portfolio of cars that have set the standard for both performance, luxury and design. His experience in Italy's Motor Valley will be instrumental for the growth of our project."

Amedeo Felisa stated, "I am very excited to join the SILK-FAW team. I have always had a passion for performance cars and welcome the chance to work with SILK–FAW to develop the next generation of high-performance luxury automobiles. Our investment into Italy's Motor Valley will be a long-term contribution to the region. We are attracting the best engineering and automotive talent and by leveraging this team through the Hongqi 'S' Series we will further develop the craftmanship and engineering capabilities for luxury product in China. As we build high-quality, ultra-luxury sports cars for both the China and Global markets, I look forward to working with the entire team."

At Auto Shanghai 2021, Silk-FAW unveiled the Hongqi S9, the first of the Hongqi 'S' series. Attendees at the Shanghai Auto Show had a preview of the technology and design elements of the Hongqi S9 hypercar, designed by world-renowned automotive legend Walter De Silva, Silk-FAW's Vice President of Styling and Design, who will be designing the entire lineup of the Hongqi 'S' series.

About Silk-FAW
Silk-FAW is a joint venture (JV) between international automotive engineering and design company, Silk EV, and one of China's largest automotive manufacturers, First Automobile Works (FAW). Silk-FAW was formed to develop a series of ultra-luxury, high-performance, new energy sports vehicles for China and the global markets. The JV is the first investment between China and Italy in the super premium and premium auto segments and marks a major milestone under the Belt & Road initiative for China, Italy and the global automotive industry. Silk-FAW plans to launch the new fully electric and hybrid luxury models under the Hongqi 'S' series, which is well-positioned to capture the opportunities in the fastest-growing auto segments in the China and international markets.

China FAW Group Corporation ("FAW" or the "Group"), formerly China First Automobile Works, was founded on July 15, 1953, when its first assembly plant was constructed. As one of China's oldest and largest automotive manufacturers, FAW has more than 130,000 employees, registered capital of RMB 35.4 billion yuan, and total assets of RMB 457.8 billion yuan.

FAW's manufacturing plants are located in northeastern China's Jilin, Liaoning and Heilongjiang provinces, northern China's Shandong province and Tianjin municipality, southern China's Guangxi Zhuang autonomous region and Hainan province, and southwestern China's Sichuan province and Yunnan province.

The Group owns the Hongqi, Bestune and Jiefang brands. In 2019, FAW delivered 3.5 million vehicles to customers. Group sales revenue in 2019 totaled RMB 620 billion yuan, while earnings amounted to RMB 44.1 billion yuan. In addition, the Group is 87th on the 2020 Fortune Global 500 list.

About Silk EV
Founded in 2018, SILK EV is an automotive engineering and design company headquartered in Emilia-Romagna, the Motor Valley of Italy, with additional operations in China and the United States.

Silk EV brings together the leading experts in Italian and global automotive design and engineering to build a global brand of new energy vehicles of world-class performance representing the pinnacle of technological innovation, connectivity, and design.

Silk EV's joint venture with China's FAW Group to produce the Hongqi 'S' series was officially launched in January 2021. The JV will be a unique opportunity for China and Italy to bring forth the future of mobility and electrification technology, thereby setting a new benchmark for the world and improving the global automobile ecosystem.

Silk EV is committed to a sustainable future globally and aims to build on the Motor Valley's existing integrated ecosystem to create an electric vehicle platform in Emilia-Romagna, Italy and China.

About Hongqi
Hongqi is a high-end, luxury automobile brand directly operated by China FAW Group Corporation. Hongqi, meaning "red flag" in Chinese, has its vehicles used for parades at national celebrations and features symbolic importance in China's auto industry. The first Hongqi car was made in 1958, making it the oldest Chinese passenger vehicle marque.

In January 2018, in a ceremony at the Great Hall of the People, China FAW announced its new Hongqi brand strategy to build the new Hongqi into a new high-end brand that will also be China's first global brand. In 2020, Hongqi sold more than 200,000 vehicles.


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