Pagani Receives Investment From Saudi Arabia: Secures Company’s Future In EV Era

The Italian hypercar manufacturer, Pagani has received investment from Saudi Arabia. The investment was made through Saudi Arabia's Public Investment Fund (PIF) and it is one of the world's largest sovereign wealth funds in the world with assets estimated close to USD 430 billion.

Pagani Receives Investment From Saudi Arabia: Secures Company’s Future In EV Era

Since Saudi Arabia is one of the richest nations and has the world's second-largest petroleum reserves, the alliance between Saudi Arabia and Pagani seems more like a marriage made in heaven rather than just any other business partnership.

Pagani Receives Investment From Saudi Arabia: Secures Company’s Future In EV Era

Though Saudi Arabia has invested in Horacio Pagani SpA (the parent group of the hypercar manufacturer), Saudi Arabia has only purchased a minority stake of the Italian hypercar manufacturer, thus leaving the controlling stake in the hands of the Italian family.

Pagani Receives Investment From Saudi Arabia: Secures Company’s Future In EV Era

"A key step in our long-term growth strategy, which envisages significant investments to ensure that our next hypercars will keep conveying unique emotions," said Horacio Pagani, the founder of Pagani.

Pagani Receives Investment From Saudi Arabia: Secures Company’s Future In EV Era

Even though Pagani is a small company by the number of cars being built, all of its cars require a significant amount of money for research and development, and the money invested by Saudi Arabia will play a key role in the development of its future vehicles.

Pagani Receives Investment From Saudi Arabia: Secures Company’s Future In EV Era

These future developments include technological improvements and the brand's expansion into the lifestyle segment. Like Ferrari playing a role in making Lamborghini a supercar manufacturer, Lamborghini also played a role in Pagani becoming a hypercar manufacturer.

Pagani Receives Investment From Saudi Arabia: Secures Company’s Future In EV Era

Pagani as an entity started as the source of prototype components for Lamborghini. Later on, this experience pushed Pagani to design their supercar. For this, Pagani took chassis and aero kits from Dallara and married them with an engine from Mercedes-AMG.

Pagani Receives Investment From Saudi Arabia: Secures Company’s Future In EV Era

This resulted in the making of Pagani C12 and this vehicle was the first of the Zonda line. Over the years, the Zonda was refined over time with over 40 different iterations. All the Pagani Zonda ever built has a Mercedes-AMG sourced V12 engine. However, the displacement varied from variant to variant with engine size ranging from 6.0-litre to 7.3-litre.

Pagani Receives Investment From Saudi Arabia: Secures Company’s Future In EV Era

Depending on the variant, the transmission offered includes a 5-speed manual, 6-speed manual, 5-speed automated manual, and 6-speed automated manual.
However, with changing times Pagani had to leave behind the Zonda, and in 2011 debuted the Pagani Huayra.

Pagani Receives Investment From Saudi Arabia: Secures Company’s Future In EV Era

Like the previous Pagani Zonda, the Pagani Huayra uses a Mercedes-AMG sourced engine. The new engine is a 6.0-litre V12 unit and is boosted by a pair of turbochargers. Depending on the variant and model, the engine can develop anywhere between 740PS to 850PS.

Pagani Receives Investment From Saudi Arabia: Secures Company’s Future In EV Era

All models of Pagani Huayra come with a 7-speed automated manual transmission built by Xtrac and come with active aerodynamics.

Pagani Receives Investment From Saudi Arabia: Secures Company’s Future In EV Era

Thoughts About Pagani Receives Investment From Saudi Arabia

The business partnership between Pagani and Saudi Arabia is not a shocking investment as the Middle Eastern country has been investing huge sums of money in different sectors both inside and outside the country to reduce its dependency on its oil reserves.

Pagani Receives Investment From Saudi Arabia: Secures Company’s Future In EV Era

However, for Pagani, the investment from Saudi Arabia will enable the Italian brand to develop future proof technology, as the hypercar segment is being quickly conquered by electric hypercars.

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Read more on: #pagani
Article Published On: Wednesday, August 25, 2021, 10:24 [IST]
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