Indian automotive manufacturers are known to buy out foreign companies, which at the end benefits both. This time, it is Mahindra that is taking the plunge. As per a report, Mahindra has shown interest in buying out the famous Italian firm, Pininfarina.
Mahindra, however, has denied any such development. Pininfarina, though, has said that Mahindra has shown interest to buy the company, but nothing has moved ahead in that front. Pininfarina has designed some incredible cars like the Ferrari, Alfa Romeo, Honda and is easily called the best automotive design house in the world. In fact, Mahindra is a client of Pininfarina but looks like the Indian auto major wants to aggressive in this front.
As per Jalopnik, if this buyout happens, Pininfarina will be run as an independent company and won’t be merged with Mahindra. This buyout deal will also include some business to do with Tech Mahindra as it provides IT and consulting services to the automotive industry. With this Italian brand, Mahindra might be looking to enter the US market, where it lacks its presence. With the buyout of Ssangyong, Mahindra did enter into the premium luxury segment, however, it wasn’t enough to enter the US market. Mahindra might start developing a new line of luxurious cars and sell it under Pininfarina brand in the United States.
Stay tuned to CarWale as we uncover more details on the Mahindra and Pininfarina buyout development.