Mahindra, a massive conglomerate based in India, recently announced that it has agreed to purchase Pininfarina, an iconic Italian brand in automotive and industrial design. As part of the agreement, Mahindra shall purchase 76.06 % of Pininfarina shares for $28 million dollars.
Pininfarina will continue to remain an independent company, listed on the Milan Stock Exchange, with Mr Paolo Pininfarina continuing as the Chairman of its board.
Pininfarina’s legendary brand status will allow Mahindra access to relationships the iconic designer has nurtured with the best in the world over its 85-year history, including with Ferrari, Alfa Romeo, Maserati and Peugeot. This will mean an opportunity for the company to influence product conceptualization and design & styling through Europe’s best-in-class design house.
Pininfarina is an independent Italian car design company, founded by Battista ‘Pinin’ Farina and run by the Pininfarina family since 1930. Over the years, Pininfarina has designed vehicles almost 1,000 cars for world renowned manufacturers like Ferrari, Alfa Romeo, Peugeot, M&M, Fiat, GM, Lancia, Maserati and Hyundai, among others. Pininfarina has also designed high-speed trains, buses, trams, rolling stocks, automated light rail cars, people movers, yachts, airplanes, and private jets. In addition, Pininfarina consults on industrial design, interior design, architecture, and graphic design.
Mr. Anand Mahindra, Chairman of the Mahindra Group, commenting on Pininfarina joining the Mahindra family, said, “Pininfarina will add enormous value to Tech Mahindra’s portfolio of engineering services. But just as important is the fact that 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”.
“Our clients want more from us, consistently. Adding Pininfarina’s legendary design skills to our Integrated Engineering Solutions enables a strong entry into Automotive styling, design & development and reinforces our body engineering capabilities. Further, Pininfarina’s 25-year design expertise in industries beyond Automotive will give us that winning edge in areas such as Aerospace, Consumer Electronics, Architecture & Interiors and Transportation where we already have a strong footprint,” according to CP Gurnani, CEO & Managing Director, Tech Mahindra.
Paolo Pininfarina, Chairman Pininfarina S.p.A. added, “In a globalized world, entrepreneurship and capital do not need a passport. 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. Tech Mahindra’s global presence and global delivery model will allow us to compete for a larger pie of the business.”
