On June 14, 2009 the NEW YORK TIMES reported the following: "In 2011, a new privately owned high-speed train company, Nuovo Trasporto Viaggiatori, will introduce a stylish, candy-apple-red fleet of 25 trains collectively known as Italo. Thhe trains' interiors will be designed by the Italian car designer Gioretto Giugiaro. Called Automotrice Grande Vitesse (A.G.V.; an updated version of the French high speed T.G.V.), Italo trains will provide service to locations between Naples and Turin." "The billion euro project, spearheaded by the head of Fiat and Ferrari, . . ., includes investors like . . . SNCF, and hopes to produce trains that are mostly constructed from recyclable materials and consume 15% less energy than current high-speed trains."