Sale Could Bring De Tomaso CUV to LightSale Could Bring De Tomaso CUV to Light

A Chinese investment group’s acquisition of a majority stake in De Tomaso finally could get the wheels spinning on a long-awaited new cross/utility vehicle from the Italian auto maker.

Earlier this week, Gianmario Rossignolo agreed to sell a 70% stake in De Tomaso for some E13 million ($17 million) to Car Luxury Investment, an Italian company belonging to China’s Hotyork Investment Group.

With the cash infusion, the boutique car manufacturer is expected to bring to fruition long-held plans for the new luxury performance CUV first shown in Geneva a year ago in concept form as the De Tomaso Deauville.

At the time of the unveiling, De Tomaso said the new model would be launched within a year, but so far there has been no further word about production. With the equity sale to Hotyork, the CUV now is expected to reach the market in 2013.

The Deauville isn’t the only model that has missed its launch target. De Tomaso announced earlier last year that it would unveil a successor to the historic Pantera at the 2011 Los Angeles auto show in November, but the planned midengine 2-seater failed to arrive.

The auto maker’s new-model plans were predicated on funding from the European Union and the Regione Piemonte government. But a change in regional government caused that money to be pulled off the table, and of the expected E20 million ($26 million) in EU funding, less than a third has been made available.

Contrary to earlier reports, and despite the new investor, De Tomaso won’t exhibit at next month’s Geneva auto show. The first public appearance of a production Deauville and another CUV based on the same platform is planned for the Paris show in September.

It is unclear if and when the Pantera’s spiritual successor will arrive.