Report: Beijing Auto, Mahindra named in list of likely Pininfarina buyers

Article by Christian A., on November 22, 2010

Reports from Italian media have listed the names of companies interested in taking over design and engineering specialist Pininfarina S.p.A. At the top of this list of up to 10 carmakers and private equity firms are Beijing Automotive Industry Holding Corp. and India's Mahindra & Mahindra Ltd.

The other companies in this list include: Brilliance China Automotive Holdings Ltd. (BMW AG's Chinese joint venture partner); China's Anhui Jianghuai Automobile Co.; and India's Bajaj Auto Ltd.

Sources who spoke to Automotive News Europe pointed at Canadian-Austrian parts supplier Magna International Inc. to be on this list as well. Pininfarina has yet to comment on this issue.

After Magna's interest in the company was revealed in a Nov. 17 publication of the ANE story, Pininfarina gave out a release to say it is looking to collect expressions of interest from potential buyers.

It stated that when there are negotiations arrive at the point wherein there would be serious communications, the company will do with “the usual transparency." Magna also declined to comment on this matter and according to a Magna Europe spokeswoman, the company’s stand not to comment remains.

In an interview with Bloomberg News, Dieter Althaus, a vice president at Magna's European unit, said that this type of acquisition would make the company earn a higher level of competence level on development matters.

He said that the company is “considerably engaged in the field of engineering,” where design and technology are factors. [via autonews - sub. required]]

If you liked the article, share on:

Comments

Recommended

t seems as if something had flown out of the drawing board. Kind of. Before the Korean carmaker holds its official debut this year, sketches of the updated 2018 Hyundai...
by - February 28, 2017
At the 2017 Mobile World Congress held in Barcelona, SEAT gave the public a taste of what it believes is the future of driving. For the company, this is about...
by - February 28, 2017
It was in April of last year when Honda first revealed plans that it was planning to build a plug-in hybrid version of the Clarity. There will also be an...
by - February 28, 2017
More efficient, more power and longer range. This is how we could best describe the electric version of the Volkswagen Golf for the 2017 model year. In terms of efficiency,...
by - February 28, 2017
If you think you’re all ready for the new 2018 Audi S4 sedan when it arrives in the United States this spring, then better make sure that your pockets are...
by - February 28, 2017
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries