Indian takeaway: Mahindra snaps up Pininfarina
Indian car-maker says it’s finally bought a majority share of Italian design houseMahindra and Mahindra has announced it has bought a 76 per cent controlling share in the independent car design house Pininfarina following months of speculation it was acquiring the Italian company.
Involving a reported $38 million for a three-quarter-plus stake in the Italian design house, the deal will see a further investment that will see the Indian car-maker invest a total of almost $250 million.
As part of the deal, Pininfarina will continue to remain an independent company, says Mahindra, but it’s thought the Indian car-maker will in the future heavily rely on its car design expertise for its brands to boost its credibility in both European and emerging markets.
"The legendary high-end design credentials of Pininfarina will significantly enhance the design capabilities of the entire Mahindra Group. Given the increasing design sensibilities of today's consumers, product design will greatly influence customer choice and experience, and hence our success," said Anand Mahindra, Chairman of the Mahindra Group
Founded and run by the Pininfarina family back in 1930, the Italian design house has worked with Ferrari, Maserati, GM, Peugeot and Alfa Romeo over its 85-year history.
Pininfarina also has become famous for designing high-speed trains, buses, trams, yachts and private jets.
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