Photo: Michael Furman
Italian legendary car designer Pininfarina SpA will be purchased by Indian company Mahindra & Mahindra Ltd. A final agreement will be finalized and signed on Monday, after months of talking.
With this move, Mahindra, who also bought Korean company Ssangyong and the motorcycle unit of PSA Peugeot Citroen, plans to add a fresh touch to its current styling.
The Italian design company has worked with the Mumbai-based carmaker on the Reva Halo EV, unveiled last year. The restyling program has already started, as the two companies also collaborate on Mahindra’s SUV development.
Pininfarina is a name that is very well known not just to car enthusiasts but to everyone who has ever stared at one of its beautifully designed cars. Among its traditional customers, we find names such as Ferrari, Alfa Romeo, Peugeot, Fiat, GM, Lancia, or Maserati.
The Italian design company is responsible for legendary series models like the Alfa Romeo Giulietta and Aurelia, the Ferrari 250 GT, the Cadillac Eldorado, concept cars, as well as many other pieces of automotive art that excite the eye and the imagination of every viewer.
Unfortunately, the company had to shut down a division that built cars for other manufacturers in 2012, according to Bloomberg.
Pininfarina’s economic problems are not new at all, as it kept struggling with debt and was not profitable for 10 of the past 11 years. Mahindra is expected to invest somewhere around $164 million, including debt and fresh capital.
This move should keep the dream-builder company alive and provide financial solidity in coming years, as Chairman Paolo Pininfarina has stated.
Cars are not the only things the Italian company has designed over the years. Since the 1980s, it has also designed high-speed trains, buses, trams, rolling stocks, yachts, airplanes or private planes. Pininfarina Extra was created in 1986, and the company expanded its interest in industrial design, interior design, architecture, and even graphic design.
The Italian design company has worked with the Mumbai-based carmaker on the Reva Halo EV, unveiled last year. The restyling program has already started, as the two companies also collaborate on Mahindra’s SUV development.
Pininfarina is a name that is very well known not just to car enthusiasts but to everyone who has ever stared at one of its beautifully designed cars. Among its traditional customers, we find names such as Ferrari, Alfa Romeo, Peugeot, Fiat, GM, Lancia, or Maserati.
The Italian design company is responsible for legendary series models like the Alfa Romeo Giulietta and Aurelia, the Ferrari 250 GT, the Cadillac Eldorado, concept cars, as well as many other pieces of automotive art that excite the eye and the imagination of every viewer.
Unfortunately, the company had to shut down a division that built cars for other manufacturers in 2012, according to Bloomberg.
Pininfarina’s economic problems are not new at all, as it kept struggling with debt and was not profitable for 10 of the past 11 years. Mahindra is expected to invest somewhere around $164 million, including debt and fresh capital.
This move should keep the dream-builder company alive and provide financial solidity in coming years, as Chairman Paolo Pininfarina has stated.
Cars are not the only things the Italian company has designed over the years. Since the 1980s, it has also designed high-speed trains, buses, trams, rolling stocks, yachts, airplanes or private planes. Pininfarina Extra was created in 1986, and the company expanded its interest in industrial design, interior design, architecture, and even graphic design.
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