MILAN, April 11 (Reuters) - Pirelli is not
planning investments in the United States at the moment, the
tyre maker said on Friday, contradicting a report in an Italian
newspaper.
The Corriere della Sera said on Friday that Paolo Zampolli,
U.S. President Donald Trump's special envoy for global
partnerships, hoped that Italian Prime Minister Giorgia Meloni
would announce an investment by Pirelli during her visit to the
White House on April 17.
He added that Pirelli would invest $1 billion in the U.S.
state of Georgia to produce so-called smart tyres, potentially
raising it to $2 billion in the future.
"At the moment nothing has been decided given the regulatory
obstacles linked to questions of governance and shareholder
structure," Pirelli said in a statement.
Pirelli executive vice chairman Marco Tronchetti Provera
said this week that the company was having difficulties
investing in the U.S. because its largest shareholder is China's
state-owned Sinochem.
Pirelli's Chinese and Italian shareholders are at odds over
the group's governance as Washington cracks down on Chinese
technology in the automotive industry, banning key software and
hardware from Chinese-controlled companies.
Trump has introduced a 25% tariff on auto imports, arguing
this will encourage foreign carmakers and their suppliers to
invest in the U.S. to avoid paying duties.