Pininfarina, a well-known Italian car design company, is about to be bought by the Indian giant Mahindra.
Pininfarina, an Italian company that since 1930 has designed some of the most beautiful cars for brands such as Ferrari, Maserati and Rolls-Royce (among others), announced that it is about to be acquired by Indian giant Mahindra & Mahindra.RELATED: Ferrari Sergio: The tribute to master Pininfarina
Over the past 11 years, the Italian company has lost some of its biggest customers, which has led to a worsening of its finances over the years – Ferrari, for example, started designing its models in-house. At the end of the first quarter of this year, Pininfarina recorded losses of around 52.7 million euros.
Faced with this scenario, there was no other alternative for Pincar (the company that owns Pininfarina) but to sell the company's capital to Indian investors. Mahindra is one of India's largest industrial clusters – it produces cars, trucks, machinery and motorcycles.
