Chinese Carmakers Looking to Buy Pininfarina

It's becoming a common thing to see Chinese companies involved in businesses all over the world and, after failing to snatch two or three big names in Europe, they are back for more. This time, rumors are hinting that Chinese carmaker are looking into ways to buy Pininfarina, the famous Italian car design firm which is now seeking a buyer to remain in business.

At this time, the only names we got are Beijing Automobile Works Co. Ltd (BAW) and Mahindra Group based in India, as well as Brilliance Auto, Jianghuai Automobile Co., Ltd. (JAW) and the Indians from Bajaj, all of them trying to buy the Italian company.

Although China is not an emerging market, Pininfarina officials earlier this year revealed that the Italian firm should be owned by a more powerful company that would have the financial power to keep it alive and financially back its efforts to get back in the elite of the design industry.

"As manager, I find it difficult to imagine Pininfarina owned by an automaker from the emerging markets," the company's CEO, Silvio Pietro Angori, was quoted as saying by Il Sole 24 Ore, via Autonews. "It is not up to me to decide but such a solution could be limiting for the company's potential. I would look more toward sectors similar to the auto division, maybe one or more investors with a successful record in managing luxury brands."

On the other hand, Magna International, who last year lost the race for Opel after GM decided to keep the German brand, is also pondering a potential acquisition, but the Canadian firm is still looking at the deal due to the financial problems experienced by the Italians.