According to Automotive News, quoting Italy’s Industry Ministry, BMW is in talks to purchase the Italian sports car brand De Tomaso. The ministry aims to start a sale process by mid-October.
“We had confirmation that talks with possible Italian partners [who would buy the structural assets] and with BMW continue,” said Giuseppe Anfuso, Turin secretary of the UILM trade union.
BMW has yet to confirm the statement and furthermore, a spokesman for the Munich-based automaker said in May that there is no interest for the De Tomaso brand.
The Italian brand was founded by the Argentine-born Alejandro de Tomaso in Modena in 1959. It originally produced various prototypes and racing cars, including a Formula One car for Frank Williams’ team in 1970. The company developed a reputation for producing sports and luxury vehicles. From 1976 to 1993 De Tomaso owned legendary Italian sports car maker Maserati. De Tomaso went into liquidation in 2004, although production of new cars continued after this date. A turnaround fell through this year when a new buyer aimed to build SUVs and sports cars under the De Tomaso brand.