New High Speed Train for Italy

Ferrari's President, Luca di Montezemolo, plans to open a new high speed train line between Rome, Milan, Turin and Venice. 114 miles of high speed track is already built between Bologna and Milan, which should enter service on December 15, reducing the journey time by about half an hour.

Florence and Bologna are also to be connected next year on 48-mile length, thus halving the travel time between the two cities.

According to The New York Times, the new high speed track plans to offer an cheaper and faster alternative to the almost bankrupt AlItalia airline, which is starting to sell its assets to a group of Italian investors, for the price of 1 billion euros. The new rail company, Nuovo Transporto Viaggiatori or N.T.V, plans to use a new type of train to rival the airlines.

The new train called A.G.V., which stands for Automotrice a Grande Vitesse, will feature more efficient engines than those of a T.G.V. Moreover, they will be built into the cars themselves, therefore eliminating the need of using separate locomotive and passenger arrangement.

The new train will be able to achieve speeds of up to 225 miles per hour, making it an alternative to the super-cars where Ferrari also excels. Luca di Montezemolo's project will also be financially backed up by Intesa Sanpaolo, Italy's biggest bank, which owns 20% of the N.T.V.

Mr di Montezemolo is almost certain that him and his fellow investors are involved in a winning project.

“Italy is a country made for high-speed trains. There is nothing to be gained from investing in airlines,” Luca di Montezemolo was quoted by economist.com as saying.