Valeo and ICAP Group, owner of Tecnobus, have signed a closing agreement to prepare the future of Valeo’s site in Ferentino.

ICAP Group will take over Ferentino Automotive Transition Srl, the Valeo company owning the Ferentino site.

Maurizio Martinelli, Valeo Group President Italy said: “At Valeo, we are looking forward to continuing contributing to the Italian ecosystem with our other sites in the country to offer safer and more sustainable mobility to all.”

The ICAP Group takeover of Ferentino Automotive Transition is a further step in the ambitious plan to develop in the fast growing industry of sustainable collective mobility, it says.

It is already a key player with its subsidiary Tecnobus, an Italian manufacturer of electric powered minibuses established since 1988 and already present in Frosinone.

The company says it is looking to increase footprint to support the rapid ramp-up of production as demand for electric mobility grows.

Paolo Marini, CEO Tecnobus said: “As Tecnobus is growing and the demand for our products booms, we are very proud to welcome Ferentino Automotive Transition in our family.“