LEGENDARY PERFORMANCE marque De Tomaso is set to return after former Fiat executive Gian Mario Rossignolo bought the name from a bankruptcy court earlier this month.
Now, Rossignolo plans to build 8000 De Tomaso cars per year in a former Pininfarina factory near Turin, Italy.
De Tomaso - which also owned Maserati and Moto Guzzi until 1993 - was founded in 1959 by Argentinean racing driver Alejandro De Tomaso.
Following his death in 2003, liquidation proceedings were brought against the company in 2004, its trademarks put up for sale by the court-appointed liquidators.
With the Vallelunga, the Mangusta and the Pantera, De Tomaso became an icon for sports car fans in the 60s and 70s.
With plans to build 2000 coupes, 3000 crossover SUV/CUV cars and 3000 luxury sedans each year, the brand's new owner Rossignolo said over $190 million will be spent on the project over the next four years.
The first new De Tomaso is scheduled to debut at the 2011 Geneva Motor Show.
The former Pininfarina plant in Grugliasco includes a body shop, paint shop and final assembly facility. It employs around 900 people.