Mahindra has been trying to acquire an international four-wheeler brand for a while now. The Indian manufacturer was among frontrunners to acquire designing company Pininfarina.
Now the Italian design company has declared that its financial value is only getting worse. Pininfarina will not be able to achieve their goal and has accounted for a complete year of loss.
Pininfarina is also chalking out plans for a standalone business and financial plan. They have to also collect sufficient money to repay their debt, which needs to be settled.
The Italian firm is also hoping that talks go well with Mahindra and a smooth deal is made. The Indian manufacturer will be more cautious in dealing with Pininfarina and will try and make sure to secure the deal for the lowest price possible now.
Italian designing firm, Pininfarina has designed vehicles for Ferrari, Maserati, Alfa Romeo, BMW and several other manufacturers. They have constantly been producing several concept models for manufacturers.
Mahindra recently purchased the two-wheeler division of Peugeot and has been constantly trying to acquire other automotive brands. It may just reconsider acquiring Pininfarina, which will help them tremendously.