The ambush involved gun shots, explosions and vehicles being set on fire, resulting in the closure – in both directions – of the A1 highway, the main artery in central and northern Italy and the most important in the country.
However, despite the drama, there were no injuries reported.
The assault took place around 8:20 pm, in the San Cesario sul Panaro area, between the Valsamoggia and south Modena toll booths.
The tactics used in the ambush appear to have been similar to other previous heists, according to Italian news agency ANSA.
The gang, made up of several gunmen, first put nails on the roadway to stop the traffic and the armoured vehicle.
Then, to create a diversion and prevent access to the scene of the robbery, at least two motorists were forced at gunpoint out of their cars which were set on fire.
Two truck drivers were ordered to place their vehicles across the motorway to block the entrances.
However, something in the robbers’ plan appears to have gone wrong and the criminals fled the scene without getting their hands on the cash.
It is believed the robbers fled in the direction of Bologna and the search continues to track them down.
Police are interviewing witnesses and those threatened by the gang in an attempt to reconstruct the crime and identify those behind the ambush.
