Now Pininfarina has confirmed that there is still no deal struck with Mahindra. The Indian automobile manufacturer was to present its offer prior to a stakeholders meet last month.
Mahindra has attempted on several occasions to acquire global automobile brands. They have attempted acquiring Jaguar Land Rover and even Aston Martin.
Pininfarina is known for developing concept models for several manufacturers. They have helped designing Ferrari, Honda, Aston Martin, Maserati and several other exotic vehicles.
Mahindra recently acquired stake in French two-wheeler department of Peugeot. They plan on expanding their reach in global market and plan on acquiring more companies to have better brand presence.
The Indian manufacturer is keen on acquiring Pininfarina, however, it could end up losing it to another company. Mahindra has previously missed acquiring other brands and would not want to lose an Italian designing company.