Italian high-speed rail operator Italo Holding has signed a major contract with Siemens Mobility for 26 high-speed trains, with an option for a further 14, as part of its planned expansion into the German rail market. The agreement, signed in Munich in Bavaria, is worth around €3 billion and forms part of a total €3.6 billion investment that will see Italo launch high-speed services in Germany from 2028.
The order marks a significant step towards introducing competition in one of Europe’s largest high-speed rail markets.
26 trains, 30 years of maintenance
The investment covers not only the new fleet but also the recruitment and training of around 2,500 employees, including indirect jobs, as well as investments in stations, IT infrastructure and a 30-year maintenance contract.
The trains will be Siemens Mobility Velaro Multi System units (used by Eurostar to go to London), capable of operating at speeds of up to 320 km/h. Each eight-car train will offer 450 seats across three travel classes – Club Executive, Prima Business, and Smart – and feature a bistro, 5G connectivity and high-speed satellite internet provided by Starlink.
The trains will be assembled at Siemens’ plant in Krefeld, while long-term maintenance will be carried out at Siemens Mobility’s depot in Dortmund. The maintenance agreement includes Siemens’ Railigent X platform and AI-powered digital services designed to maximise fleet availability throughout the trains’ operational lifetime.
Services to start in 2028
From mid-2028, Italo’s German subsidiary will operate on two principal high-speed corridors: Munich – Cologne – Dortmund and Munich – Berlin – Hamburg. The network will serve 18 cities across approximately 1,300 kilometres of railway, with around 50 daily services.
Gianbattista La Rocca, Chief Executive Officer of Italo Holding, said the company wanted to offer German passengers “more choice, more frequent services, fair prices and high-quality service.”
“Starting with the trains, Siemens Mobility’s technology sets the benchmark, and our total investment of €3.6 billion reflects the depth of our commitment to this market,” he said.
“Following the decision of the Bundesnetzagentur, we are now ready to take the first concrete steps towards launching services in 2028, from recruiting and training staff to developing the industrial, operational and commercial structure for this new chapter in Germany. We thank our shareholders – MSC, GIP (part of BlackRock), Allianz and our founding investors – for the strong support they have provided throughout this process.”
A step towards a single European rail market
Luca Cordero di Montezemolo, Chairman of Italo Holding (and of Ferrari fame), described the project as an important milestone for European rail transport.
“Today marks an important new chapter for European rail mobility. Italo’s arrival in Germany is not simply the entry of a new operator, but a concrete step towards a genuine single European transport market, capable of overcoming the patchwork liberalisation that still fragments Europe,” he said.
“I believe in a system that puts citizens first, giving them the freedom to choose how and with whom they travel. This project combines Italo’s experience as the first private high-speed operator that delivered Europe’s first major rail liberalisation in Italy with the enormous potential of Germany: a strategically important railway network for the entire continent, supported by an industrial partner such as Siemens Mobility capable of building world-class trains.”
“A new company rooted in Germany will create jobs and opportunities for thousands of German professionals, and I am confident it will stimulate market growth, fairer prices and better services for passengers. It shows that when Europe chooses openness and cooperation, it can create shared value. It is a small but significant step towards a more integrated Europe, something we need now more than ever. I am proud of it, as an Italian, but even more so as a European.”
Siemens: “A flagship project”
Michael Peter, Chief Executive Officer of Siemens Mobility, said the order demonstrated confidence in the company’s high-speed technology.
“Italo Holding’s decision sends a strong signal of confidence in Siemens Mobility and in our Velaro platform, one of the world’s most successful high-speed trains,” he said.
“Operating in numerous countries, with more than three billion kilometres travelled and millions of passengers carried worldwide, Velaro has established a benchmark for reliable and efficient high-speed rail transport. This long-term partnership, covering both the trains and 30 years of full-service maintenance, is a flagship project and a strong commitment to industrial value creation and innovation made in Germany.”
New German operating companies
Italo Holding owns 100% of Italo, which operates high-speed rail services in Italy and wholly owns coach operator Itabus. The company also owns Italo International, the new entity responsible for Italo’s international expansion.
In Germany, Italo International has established two Frankfurt-based companies under German law: Atrium, which will operate the railway services, and Mainsee, which will own the train fleet. Together, the two companies will manage all of Italo’s rail operations in Germany.
