Latest news with #MarcoTronchettiProvera
Newsweek
15-07-2025
- Automotive
- Newsweek
5G-Connected Tires Being Used to Facilitate Road Repairs
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. Drivers know about potholes, frost heaves and pavement erosion long before the government organization in charge of the roads does. In Italy, that timing is becoming more equal. The Apulia (Puglia) Regional Government launched a pilot project with Pirelli to test the company's Cyber Tyre functionality, mapping the area's road network and increasing safety. The project aims to create a "state of health" for the region's roads. Pirelli's Cyber Tyre gathers data via an embedded sensor and then transmits it to the car's electronic control unit using 5G technology. The data is then transferred to onboard devices, like an infotainment screen. Three Pirelli tire lines feature the Cyber technology: Pirelli P Zero (PZ4), P Zero Corsa and P Zero Winter. Cyber-enabled tires are distinguished by a "C" on the sidewall. Work in progress in the highway the text reads 'Reduce speed because there are Men at Work' in Italian. Work in progress in the highway the text reads 'Reduce speed because there are Men at Work' in Italian. iStockphoto/Getty The data the tires transmit will be paired with data collected by Univrses technology via cameras on the test vehicle. It is the first project in the world that is capable of unifying the two types of data. "The Apulia Region is proud of this forward-looking agreement, as we always are when it comes to ensuring the safety of citizens. Technology can save lives. In this case, it will be useful as a thermometer of the state of health of our roads," President of the Apulia Region, Michele Emiliano, told Newsweek. "When you systematize factors such as innovation, intelligent and long-term planning, the exchange of best practices with a historic Italian and world tyre company, the result is an historic agreement, which does not entail any charges for the Region and I am sure will bring significant results," he continued. The cars for the project have been supplied by Ayvens, a rental company that offers long-term rental services and fleet management. They are on the Apulian roads collecting data today. "For Pirelli's digital development, Apulia is becoming an important center of excellence, fully integrated with our other research hubs around the world. At the heart of this innovation and the related activities lies the Cyber Tyre technology: this hardware and software system not only enables a connection between the road surface and the vehicle's control systems, but also allows for precise analysis of road infrastructure conditions, contributing to increased road safety," Marco Tronchetti Provera, executive vice chairman of Pirelli, told Newsweek. The project is preparing Pirelli for the connected technology that will rule the day in tomorrow's smart cities. "In the future, Pirelli Cyber Tyre will also be able to provide essential information in anticipation of the advent of smart cities, communicating with the surrounding environment and other vehicles through 5G connectivity," the executive said. Highway with the signs of the locations of Southern Italy Naples Salerno Reggio Calabria Pescara and Bari with several cars running. Highway with the signs of the locations of Southern Italy Naples Salerno Reggio Calabria Pescara and Bari with several cars running. iStockphoto/Getty Pirelli has long-standing business interests in the Apulia Region. Part of its research and development team works out of Bari in the Digital Solutions Center, a software factory focused entirely on digital innovation.
Reuters
20-06-2025
- Business
- Reuters
Pirelli boss says issues with China's Sinochem will be fixed
MILAN, June 20 (Reuters) - Pirelli ( opens new tab chief Marco Tronchetti Provera said on Friday the tensions at the tyremaker involving China's state-controlled Sinochem ( opens new tab, its main shareholder, are on the way to being resolved. Sinochem, which owns a 37% stake, has crossed swords with the company and its second largest shareholder Camfin, which claim that a large Chinese presence in Pirelli poses a threat to its ambitions to expand its business in the United States. Tronchetti Provera, Pirelli's executive vice chairman, controller of Camfin and de facto top boss, said at a conference in Milan that the company was on the right track towards a positive outcome.
Yahoo
12-06-2025
- Automotive
- Yahoo
Pirelli investors back 2024 earnings report despite opposition from China's Sinochem
MILAN (Reuters) -Pirelli investors on Thursday approved the Italian tyremaker's earnings report for last year despite the opposition of its largest shareholder, the Chinese state-controlled group Sinochem, the company said. The outcome of the vote suggests that Sinochem, whose influence over Pirelli has been restricted by the Italian government, no longer has effective control over the company. Sinochem, which owns a 37% stake, has crossed swords with the company and its second largest shareholder Camfin, which claim that a large Chinese presence in Pirelli poses a threat to its ambitions to expand its business in the United States. The Pirelli statement confirmed that Sinochem had been the only shareholder to vote against the approval of the annual report for 2024. The shareholder meeting also approved the payment of 250 million euros to investors as a dividend, the equivalent of 0.25 euro per share. Washington is cracking down on Chinese technology in the automotive industry by banning key software and hardware from Chinese-controlled companies in connected vehicles on U.S. roads. The Italian government is seeking clarity from the United States about possible restrictions on Pirelli's U.S. activities due to its Chinese investor, Reuters reported on Wednesday. As part of the governance dispute, some Sinochem representatives on Pirelli's board, including Chairman Jiao Jian, earlier this year voted against the group's financial statement for 2024. Some Sinochem board members also voted against Pirelli's results for the first quarter of 2025. The Italian government intervened two years ago to curb Sinochem's influence in Pirelli and to protect the autonomy of its management under so-called "golden power" legislation for companies deemed of strategic importance. Camfin, which owns a 27.4% stake in Pirelli, is the vehicle of Executive Vice-Chairman Marco Tronchetti Provera, the Italian businessman who has been the company's top boss for more than three decades. In a challenging context for the whole automotive industry, Pirelli last year posted above-target results, with a 2% revenue increase and a margin on adjusted operating profit rising to 15.7%. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
11-06-2025
- Automotive
- Yahoo
Exclusive-Italy seeks clarity from US over curbs on Pirelli due to Chinese investor
By Giuseppe Fonte ROME (Reuters) -The Italian government is seeking clarity from the United States amid concerns that Washington could impose domestic restrictions on Pirelli due to the tyremaker's Chinese investor, two sources familiar with the matter told Reuters. The previously unreported involvement of Italian officials in talks with U.S. counterparts on the matter comes as the U.S. moves to limit the sale of cars using some Chinese technologies. Pirelli's Chinese and Italian shareholders are in a dispute over the group's governance. China's state-controlled Sinochem is Pirelli's largest investor with a 37% stake, while Camfin, the vehicle of Italian businessman Marco Tronchetti Provera, holds 27.4%. Pirelli and Camfin have said that Sinochem's stake poses a risk to Pirelli's U.S. expansion ambitions. Washington has said it plans to ban key software and hardware from Chinese-controlled companies in connected vehicles on U.S. roads. Software prohibitions take effect in the 2027 model year, those on hardware in 2029. Asking not to be named due to the sensitivity of the matter, the sources said the Italian government was seeking clarity on whether the U.S. legislation would apply to Pirelli and, if so, to what extent. Rome is trying to help Pirelli in talks with Washington, one of the sources added. Prime Minister Giorgia Meloni's office and Pirelli declined to comment. Pirelli makes over 20% of its revenue in North America, and that percentage rises to 40% for its high-value products. Sinochem's stake in Pirelli could end up in Washington's crosshairs because the Italian group has developed technology allowing data from its so-called Cyber Tyres to be collected and transferred in real time to the vehicle. Tronchetti Provera has also lobbied the Italian government to take more action to limit Chinese influence at Pirelli, Reuters reported last week, by strengthening restrictions that Rome imposed on Sinochem in 2023 through so-called golden power rules aimed at protecting strategic assets. However, Meloni's administration has so far rebuffed these calls. Pirelli holds a shareholder meeting on Thursday to approve its 2024 financial report, which some Sinochem representatives on the board did not back. Last month, the Chinese company described a proposal from Pirelli aimed at solving governance problems as "seriously unfair", while Camfin said that Sinochem's approach could lead to a break in the shareholder pact still in place between the two largest investors. (Additional reporting by Giulio Piovaccari in Milan. Editing by Giselda Vagnoni and Mark Potter) Sign in to access your portfolio
Reuters
11-06-2025
- Automotive
- Reuters
Exclusive: Italy seeks clarity from US over curbs on Pirelli due to Chinese investor
ROME, June 11 (Reuters) - The Italian government is seeking clarity from the United States amid concerns that Washington could impose domestic restrictions on Pirelli ( opens new tab due to the tyremaker's Chinese investor, two sources familiar with the matter told Reuters. The previously unreported involvement of Italian officials in talks with U.S. counterparts on the matter comes as the U.S. moves to limit the sale of cars using some Chinese technologies. Pirelli's Chinese and Italian shareholders are in a dispute over the group's governance. China's state-controlled Sinochem ( opens new tab is Pirelli's largest investor with a 37% stake, while Camfin, the vehicle of Italian businessman Marco Tronchetti Provera, holds 27.4%. Pirelli and Camfin have said that Sinochem's stake poses a risk to Pirelli's U.S. expansion ambitions. Washington has said it plans to ban key software and hardware from Chinese-controlled companies in connected vehicles on U.S. roads. Software prohibitions take effect in the 2027 model year, those on hardware in 2029. Asking not to be named due to the sensitivity of the matter, the sources said the Italian government was seeking clarity on whether the U.S. legislation would apply to Pirelli and, if so, to what extent. Rome is trying to help Pirelli in talks with Washington, one of the sources added. Prime Minister Giorgia Meloni's office and Pirelli declined to comment. Pirelli makes over 20% of its revenue in North America, and that percentage rises to 40% for its high-value products. Sinochem's stake in Pirelli could end up in Washington's crosshairs because the Italian group has developed technology allowing data from its so-called Cyber Tyres to be collected and transferred in real time to the vehicle. Tronchetti Provera has also lobbied the Italian government to take more action to limit Chinese influence at Pirelli, Reuters reported last week, by strengthening restrictions that Rome imposed on Sinochem in 2023 through so-called golden power rules aimed at protecting strategic assets. However, Meloni's administration has so far rebuffed these calls. Pirelli holds a shareholder meeting on Thursday to approve its 2024 financial report, which some Sinochem representatives on the board did not back. Last month, the Chinese company described a proposal from Pirelli aimed at solving governance problems as "seriously unfair", while Camfin said that Sinochem's approach could lead to a break in the shareholder pact still in place between the two largest investors.
