Pininfarina City Car for Portugal
May 14, 2002

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A series of automotive industry events under the title "Auto Cluster Meeting" will be held in and around Lisbon, from May 21st until June 3rd.

The series has been organized by Icep Portugal, AFIA (Portuguese Association of Automotive Suppliers), AINP (Northern Portugal Investment Agency) and INTELI (Intelligence in Innovation).

The Auto Cluster Meeting is an industry-wide initiative designed to:

* promote international awareness of Portugal?s automotive potential;

* foster the development of strategic partnerships with other sectors and the industry technological infrastructures;

* focus efforts on the innovation and internationalization of the Portuguese auto components sector;

* reinforce cooperation between Portuguese and Spanish auto components companies in order to reach new markets.

The program will feature the presentation on May 27 of the first results of Project P3, an automotive market study by Pininfarina, the Italian automobile manufacturer and designer of Ferrari automobiles. With the participation of experts at the Massachusetts Institute of Technology (MIT), Pennsylvania State University, INTELI and Technical University of Lisbon, this study examines the feasibility of industrializing, engineering and developing a modular vehicle (city car) in Portugal.

The automotive industry in Portugal has been successful in adapting to new technologies. With five assembling plants and over 180 auto components companies, the industry employs 4 percent of the country?s work force and represents 7 percent of the GDP as well as 20 percent of Portuguese exports. "The goal of the Automotive Cluster Meeting is to educate Portuguese and international business leaders on recent progress and the outlook for the future of Portugal?s third largest and most export-oriented industry," said Miguel Garcia, Icep?s Director of Foreign Investment in the US.

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