Pininfarina, Unlikely in Tata's Hands

As we reported in mid-August, Pininfarina's efforts to sell a 50.7 percent stake in the business was rumored to have found an answer in India, with Tata Motors. Today, the company's CEO, Silvio Pietro Angori, says it is unlikely the stake will be sold to a company from an emerging market.

"As manager, I find it difficult to imagine Pininfarina owned by an automaker from the emerging markets," 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."

Pininfarina is looking to sell the respective stake as a result of a debt agreement made with lender banks back in 2008. Even so, Angori believes it will still take some 12 more months, at least, for the sale to be concluded. "It would be good if the process closed in the next 12 months," he said.

Pininfarina has reportedly not asked one of its current partners, Bollore, with whom it is developing an electric vehicle, to take the respective stake. The rumor was confirmed by Bollore representatives, who said the French carmaker has not been asked to take the stake.

The car in question, dubbed Bluecar, is already available for order. The compact MPV, powered by Lythium Metal Polymere (LMP) batteries has a range of 250 km and will be offered by Bollore on lease basis, for 30 euro/month.