Lamborghini Agreed To Produce SUV’s In Italy; Agreement To Be Signed Tomorrow

Supercar makers Lamborghini will a sign a crucial agreement with Italy Government to produce a Sports Utility vehicle at its Sant’Agata Bolognese plant, a source with knowledge of the matter said on Tuesday. This sign of Lamborghini will be a huge matter of importance and the world is on its feet already for Wednesday. 4wheelreviews believes that if the same move carries elsewhere, all middle level SUV makers will have to pack their bags and get back home.

The part of Volkswagen groups believes that, SUV will allow it to repeat Porsche’s success in the fast-growing market for luxury four-by-fours and boost its profitability. Its sales are expected to more than double the company’s deliveries, which stood at 2,530 vehicles last year.Lamborghini

Tomorrow’s agreement will light many unemployed that the company is planning to hire 350 workers at the plant in exchange for tax breaks and incentives of up to 90 million euros ($98 million), the source added.

The office of Prime Minister Matteo Renzi said earlier on Tuesday that an agreement with Lamborghini would be signed the following day, without giving details. Lamborghini declined to comment on the content of the agreement.

A separate industry source confirmed that the deal regarded taxes and jobs.

In a bid to tackle chronically high unemployment, Renzi’s government approved a labour reform earlier this year, easing firing restrictions in large firms and offering fiscal incentives to employers that offer workers permanent contracts Both Renzi and Lamborghini Chief Executive Stephan Winkelmann are expected to attend the press conference and signing event scheduled for Wednesday.

Lamborghini has yet to announce a launch date for the SUV, named Urus, pending approval from parent Volkswagen. Winkelmann has previously said he expected the SUV could come to the market by 2017 or 2018. The carmaker first presented a concept vehicle for the SUV in 2012. ($1 = 0.9183 euros) (Additional reporting by Jan Schwartz in Hamburg; writing by Agnieszka Flak; editing by Paolo Biondi and Susan Thomas)

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