But Will It Be a New Economic Engine?

Former Chrysler Chairman Lee Iacocca has gone back to his Italian roots to develop another product that needs oil to make it go.

This time, it’s Olivio spread, an olive oil-based alternative to butter and margarine boasting of no cholesterol and 80% less saturated fat than butter. It’s being test-marketed in Ohio and New York.

Iacocca got into the food business in 1992, after he bought a home in Tuscany, Italy.

Iacocca provides the voice for the spread’s television commercials, but don’t expect the auto industry’s preeminent pitchman to get in front of the camera.

“I’m out of the commercial business,” he said. “I’m not going to come back selling olive oil to the American public after 15 years of selling cars on TV.”