As far as I can remember, the two lowest priced Pinarellos are fully made in Taiwan. Some of the carbon frames are made in Taiwan, the cheaper one is finished in Taiwan too. The Fp4:13 (?) is finished in Treviso. They use Japanese CF for those (Toray). I presume that most of the metal bikes are still made somewhere in Italy. They have a factory shop in Treviso after all, and who wouldn't want to visit that?