Mahindra buys Pininfarina.
Indian Automobile major Mahindra and Mahindra have brought Pininfaria to its fold, for $28 million. The rumor mills were busy about the buyout, but it took more than few months for the acquisition to bear fruit. The total value of this deal is more than $125 million (Mahindra will pay around $28 million for 76-percent, and will make offers for the remaining 24 percent. In addition to the cash payout, Mahindra has guaranteed the Italian design house’s creditors more than $125 million and promises to invest a further $20-plus million into the company).
There will be no change in the design house’s long standing agreement with other auto makers, and there are no plans to relocate the company to India. Pininfarina will…show more content… According to sources, while there will be no changes to the way Pininfarina operates, what Mahindra is looking for will be to have design inputs for its home grown brand as well as the acquired brand – Ssangyong. Ssangyong have often been criticized for the looks and that will be one front Mahindra will leverage the power gained by this…show more content… By 1950, Pinifarina started designing Ferrari’s and have created countless masterpieces such as 250 GT, Daytona, Cisitalia 202 etc. Alfa Romeo followed Ferrari and entered inti a partnership with Pininfarina . The Alfa Giulietta Spider was the first mass produced car by Pininfarina.
Pininfarimna invested heavily into automobile body production, research and development, manufacturing techniques etc. It is a fact that Pinifarina had one of the first full sized wind tunnels for automotive research, back in 1972.
The first foray of Pininfarina to US was with Nash cars, and Nash heavily leveraged their connection with Pininfarina even though most of the Nash models were reworked to suit American tastes. The Nash campaign made Pininfarina a household name in US by mid of 1950s.
Pininfarina have not only designed cars for Ferrari, Maserati, Alfa Romeo, Rolls Royce,Lancia, Cadillac etc but have also designed high-speed trains, buses, trams, rolling stocks, automated light rail cars, people movers, yachts, airplanes, and private jets and have consulted on industrial design, interior design, architecture, and graphic design.