India’s Mahindra takes controlling share in Pininfarina

Purchase and investment should secure Pininfarina's future - and expand its global reach

The cars of Mahindra – one of India’s largest automakers and best known in the UK for the G-Wiz electric quadricycle – could be about to get a lot more attractive.

The firm has announced its subsidiaries, Tech Mahindra and Mahindra & Mahindra, will purchase 76.06 per cent of Pininfarina’s shares from its controlling shareholder, PincarS.r.l. This purchase will be followed by an open offer to buy remaining shares in the company.

While Pininfarina will remain an independent company, listed on the Milan Stock Exchange, Mahindra sees the purchase as a way of breaking into markets like Europe, the U.S. and China. For Pininfarina, the benefits will come from Mahindra’s scale – including a presence in 90 countries and access to 780 commercial customers.

Like many Italian coachbuilders, Pininfarina is best-known for the volume production vehicles it designed in the post-war period, and counts a huge number of Ferraris since the 1950s among its best-known shapes.

However, the firm’s designers have also worked on Fiats, Peugeots, Maseratis and more, while also producing vehicles under contract for other manufacturers – in recent decades, cars such as the Alfa Romeo Brera, Fiat Coupe and Ford StreetKa have all been built by Pininfarina.

Individual commissions have long been popular too – Michael Stoschek’s stunning reimagined Lancia Stratos was the work of Pininfarina, as was Jim Glickenhaus’s Enzo-based Ferrari P4/5.

The company operates a philosophy of ‘Purity, Innovation and Elegance’ – qualities Mahindra says fit perfectly with Tech Mahindra’s ‘world of connectedness.

It’s unclear at this early stage how Mahindra will leverage its stake in Pininfarina to enliven its own range of vehicles – the Indian group says Pininfarina’s skills ‘enable a strong entry into automotive styling, design and development’ – but the Italian firm is no stranger to working on humbler projects. In recent years, it has penned shapes for Chinese automakers Brilliance and Chery, and previously undertook projects for Hyundai and Daewoo.

Pininfarina is sure to continue its work with more prominent manufacturers though. ‘In a globalized world, entrepreneurship and capital do not need a passport,’ said Paolo Pininfarina, chairman at Pininfarina S.p.A.

‘We are joining hands with a $3.9 Billion Technology & Global partner, and part of the $16.9 billion global Mahindra Group, which will not only strengthen our Italian identity but will open more doors.’

Recommended

Pininfarina B95 revealed as 1874bhp topless hypercar
Pininfarina B95
News

Pininfarina B95 revealed as 1874bhp topless hypercar

The ultra-exclusive, coachbuilt B95 is Automobili Pininfarina’s all-electric take on the roofless hypercar
21 Aug 2023
Automobili Pininfarina Pura Vision revealed as luxury SUV concept
Automobili Pininfarina Pura Vision
News

Automobili Pininfarina Pura Vision revealed as luxury SUV concept

The all-electric Pininfarina Pura Vision previews the marque’s future models with cutting-edge tech and a bold new design
1 Aug 2023

Most Popular

Toyota GR Yaris Gen 2 2024 review – first drive of the production ready hot hatch
Toyota GR Yaris – front
Reviews

Toyota GR Yaris Gen 2 2024 review – first drive of the production ready hot hatch

We've driven a prototype GR Yaris Gen 2 on track, now we've driven a production car on ice. Is it still looking good for the ultimate supermini?
27 Feb 2024
New Alpine A290: latest details on the Renault 5's hot hatch cousin
Alpine A290 concept
Features

New Alpine A290: latest details on the Renault 5's hot hatch cousin

Good news for fans of accessible performance, as Alpine reveals more details about its forthcoming EV hot hatch, the A290
26 Feb 2024
Hyundai i30 N and i20 N axed
Hyundai i30 N and i20 N
News

Hyundai i30 N and i20 N axed

Production of petrol-powered Hyundai N hot hatches has come to an end in Europe, with electric N models picking up the baton
23 Feb 2024