What is good for Fiat is good for Italy. The ruling, handed down by lawyer Gianni Agnelli, refers to the relationship between the Turin car manufacturer and the state. After all, it has always been said that Fiat was by definition governmental. So is the Agnelli family, which these days is at the center of the storm over the Juventus (coincidentally known as Italy’s friend) affair. In the morning as part of the investigation, launched in November of a year ago, into the financial statements of three years, 2019, 2020, 2021, for which the prosecution alleges fictitious capital gains and maneuvers on footballers’ salaries during the Covid epidemic. there Turin Public Prosecutor’s Office 13 indictments requested. These are the 12 natural people plus the company. The post of former mayors has been removed. Among the requests to indict the leaders, the president Andrea Agnellivice Pavel NedvedAnd the Fabio Paratici And the Maurice Arrivabene. On October 24, the suspects were notified that the investigation had been closed.
Now we are wondering what is the future of the sports club, which is part of the Exor group, even if the rumors circulating (including relegation to the second division) have not yet affected the performance on the stock exchange, which today is growing (+ 1.46%). In terms of image, the resignation of the board, where the last director with the surname Agnelli sits, could have an impact, especially in Italy, where the link with FCA and with other companies in the Exor group remains strong. Although for years Exor An international player, the relationship with the boot remains strong, even at the political level, where often what is good for Italy is also good for Fiat.
Also lead role in Pnrr
The Exor group company, which is also under the Draghi government, has been supported by the possibility of accessing public funds, including those from the Recovery Fund. In April 2021, the Ministry of Finance authorized a innovation deal With a total investment of 18 million euros, with the regions of Lombardy and Sicily and the companies STMicroelectronics, FCA Italy (Exor Group) and Comau, in order to realize an innovative project in the microelectronics production sector.
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Mef also supported the historic company on Corso Marconi in a project related to the construction of electric tractors. To take advantage of CNH Industrial Italywhich is a company active in producing agricultural machinery and for construction, which involves the development of hybrid electric technology for tractors at the Modena plant. The resources required to finance the intervention amount to a total of 39.4 million Euros, of which the Ministry of Economic Development offers concessions worth 7.9 million euros. CNH Industrial is an Italian group headquartered in England and controlled by Exor, listed on the Milan and New York Stock Exchanges. But the interests of the Exor group are also on one of Pnrr’s focal points, hydrogen, for which funding of $1 billion in public aid has arrived in Italy from the European Commission, and which has been earmarked for companies by the Ministry of Infrastructure.
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The companies that make up the group that will participate in the project are among the mainstays of Italian capitalism, such as Ansaldo, Fincantieri, Alstom Ferroviaria, Enel, De Nora and Snam. Among those there are also iveco, a historic truck manufacturing brand, also part of the Exor group. The objective of the project is to create a supply chain of components intended for the development of electrolyzers, fuel cells, hydrogen storage, transportation and distribution technology, up to items that will be used in the transport sector.