Pininfarina to Get New Owner, Focus on Electric Cars
The news comes as a result of the announcement made in December by Pininfarina, who at the time said Pincar has reached an agreement with its creditor bank to sell the 50.6 percent stake it holds, Autonews reported.
Pininfarina was faced with a numbers of problems last year, the biggest of which was the 204 million loss registered in 2008. The grim forecasts for 2009 show that Pininfarina will continue to make an operating loss and it will not be able to generate operating cash. This doesn't mean the company will shut down though, as existing liquidity will help it to continue its operations, Pininfarina said.
Prospects of a majority stake in Pininfarina being out on the market has raised the interest of French financier Vincent Bollore, who said he could be interested into taking a stake in the Italian firm should the need for an industrial partner arise.
As we previously reported, the future of Pininfarina is based on a revised industrial plan which states the end of its current contracts in 2011 and switching on the exclusive building of electric cars in joint venture with French company Bollore (Véhicules Électriques Pininfarina Bolloré).
A glimpse of that future is already here, as the two companies have already developed the Bluecar. The vehicle, a compact MPV conceived as a four-seater five-door vehicle is already available for order on the bluecar.fr website.