While Mitsubishi recognized Pininfarina's expertise in design and engineering, the reason for choosing them was that manufacturing costs were half of those in Germany. In April , after three years of serious losses totaling million euros at the end of ,  Pininfarina made the first of several moves to raise capital and restructure its enormous debt:. Pininfarina announced Piero Ferrari , Alberto Bombassei chairman of Brembo , and the Marsiaj family founders of the Sabelt seatbelt company , will join with Vincent Bolloré , a French financier, and Ratan Tata , head of India's Tata Group conglomerate, who already announced their plans to invest.
The five would together invest million. Funding would come through the sale of stock to other investors. On 31 December , Pininfarina announced a debt restructuring that would require the family to sell its stake in the company. Pininfarina released a statement saying that it is still gathering "possible offers from potential buyers," adding it would release more information when it was appropriate.
Company sources added, the family will not sell its entire An agreement with creditor banks including Intesa Sanpaolo, UniCredit, Mediobanca, and Banca Monte dei Paschi di Siena to restructure the net debt of 76 million euros is on track and will be reached in the coming months, said three sources close to the situation.
The deal will close a chapter that began in when the banks swapped million euros in debt in exchange for a promise of proceeds from a future sale of part of the Pininfarina's family stake.
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But no takers materialised. Potential buyers were not willing to acquire a design company when they can easily contract its services, said one of the people familiar with the situation. In a statement released on 15 February, the Cambiano-based company, which owes over million to a number of Italian banks, said its debt repayment date has been extended to , from With the new debt restructuring deal with its creditors, Pininfarina will remain under the control of the Pininfarina family.
Automotive News reported Pininfarina projects will be profitable in , thanks in part to debt restructuring. The Italian design studio has not been profitable for eight years, but signed a deal in April to restructure million in debt. The move effectively stretched the studio's repayment deadline from to At the same time, Pininfarina announced it will likely see an operating loss this year, but a one-time gain of million will result in the net profit.
In the preceding year, the company lost million in the first quarter, though that figure has dropped to just under a million during Q1 Pininfarina also saw its net revenue increase by million. Pininfarina in the black for the first time since Italian design house Pininfarina predicted last May that it would face an operating loss for but still come out with a net profit. Both predictions came true: the company is reporting an operating loss of 8. According to Reuters, the good news came because of a debt restructuring arranged the preceding year that gave the company three more years to repay its million in debt, and a one-time gain of approximately 45 million euros.
It is the company's first profit since The Indian company will offer the same price for the remaining stock. In addition to buying stock, Mahindra will invest 20 million euros in Pininfarina and provide a guarantee to creditors of On December 10, Pininfarina announced it would end all automotive production.
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In truth production ended in November with the conclusion of the contract to produce the Alfa Romeo Brera and Spider at the San Giorgio plant. Opened in with nearly 1, employees, by output exceeded 11, car bodies. Finpiemonte, as part of the deal, leases the plant to Gian Mario Rossignolo at a rent of per year for six years renewable.
The Grugliasco sale did not include an adjacent structure that houses the wind tunnel. Automotive production ended at San Giorgio with the conclusion of the Ford production in July , and Alfa Romeo production in November Following the end of contract manufacturing activities, San Giorgio Canavese is being used for the production of spare parts for cars manufactured in the past.
Pininfarina opened its third manufacturing plant in Currently Pininfarina leases the plant and 57 employees to the Cecomp Group. This agreement to produce 4, electric Bolloré Bluecars runs from 1 April to 31 December A joint venture between Pininfarina S. Volvo and Pininfarina S. As of 31 December the termination this agreement would result in a 30 million euros fee paid to Pininfarina. On 25 June the last Volvo C70 was produced and the Uddevalla assembly plant was closed.
Although Pininfarina rarely gave credit to individuals,  that policy seems to have changed in recent years  and many of the designers of the past have become known. As of Pininfarina employs 98 people in their design department,  down from in Pininfarina designs, manufactures, assembles, and tests prototypes and production vehicles under contract for other automakers. In the past Pininfarina has produced both cars and car-bodies under contract from other automakers.
This production includes Pininfarina-designed cars and vehicles designed by others. A sortable list of complete cars or car bodies manufactured in one of the five Pininfarina factories:.
Before the war Pininfarina built car bodies mostly for individual customers, many of the bodies were "one offs" and not mass-produced. In addition to production vehicles , Pininfarina creates prototype , show , and custom cars for auto manufacturers , as well as private clients. Most prototypes—such as the Ferrari Mythos , were concept cars , although several have become production models, including the Ferrari Scaglietti and Ferrari F Its design began in September with sketches by Jason Castriota moving through computer aided sculpture and stringent wind tunnel testing.
More than components were designed especially for the car though the engine, drivetrain and many other components are simply modified from the original Enzo Ferrari. Another recent prototype is the Pininfarina Nido , a two-seater sub-compact that could possibly make airbags obsolete. Pininfarina announced this one-off concept car as the first collaboration between BMW and Pininfarina,  but in BMW commissioned Pininfarina design and build a prototype of the BMW —it was rejected for being too modern.
Pininfarina has an area dedicated to the new electric car Pininfarina Bolloré. Batteries are produced by the French Bolloré Group. Pininfarina, has introduced its own electric vehicle concept, the Pininfarina B0 pronounced "B Zero". The four-seat hatchback features a solid-state lithium-polymer battery, supercapacitors, and a roof- integrated solar panel to achieve a range of miles km. Developed in partnership with the Bolloré Group , the vehicle was slated for limited production in as the Bolloré Bluecar.
Pininfarina displayed a turbine-powered plug-in hybrid called the Cambiano at the Geneva Motor Show. It has horsepower, and only will be built. It is also related to the Rimac C Two. Pininfarina also works with other companies such as SimpleTech for product design. Other Pininfarina product designs include the Winter Olympics torch, cauldron and medals, as well as major appliance collections for Gorenje. Pininfarina was a design contractor for the development of the Coca-Cola Freestyle drinks dispenser. Pininfarina Extra, founded in , is the Pininfarina Group design company which does not work in the transport sector.
Examples include:. From Wikipedia, the free encyclopedia. This article is about the Italian design house and coachbuilder. For the automaker and sister company, see Automobili Pininfarina.
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For the person, see Battista Pininfarina. For other uses, see Pininfarina disambiguation. This article needs to be updated. Please update this article to reflect recent events or newly available information. August Traded as. Net income. This article or section appears to be slanted towards recent events.
Please try to keep recent events in historical perspective and add more content related to non-recent events. June Learn how and when to remove this template message. Retrieved 23 October Retrieved 8 April Pininfarina Group. Retrieved 19 June Retrieved 29 May Archived from the original on 10 January The New York Times. Archived from the original on 2 June Pininfarina: Born with the automobile.
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Milan: Automobilia. ISBN No, but a design change at Ferrari". Automotive News Europe. Archived from the original on 27 May Archived from the original on 30 October Retrieved 20 May Thousand Oaks, California: Sage.
Retrieved 29 April Financial Times. Campden FB. Retrieved 17 August Archived from the original on April 19, Retrieved Archived from the original on August 19, RCS Mediagroup. Retrieved 3 February Automotive News. Retrieved 5 December The Auto Channel. Retrieved 30 August Retrieved 28 March Automotive Designers to ". Designing Motion: Automotive Designers to Archived from the original on Car Styling.