The Pininfarina PURA Vision electric concept brings together two different forms of designs. Termed an LUV (Luxury Utility Vehicle) designers have seamlessly melded a high-riding SUV with GT-like styling.
Ford and Mahindra have been jointly developing SUVs for the Indian market and now, reports on the internet suggest that Pininfarina has been onboarded to design these SUVs. The Italian company, designer of iconic Ferraris like the Berlinetta Boxer and the Daytona, will definitely bring much anticipated designs to India.
The announcement was made at the ongoing Frankfurt Motor Show when it was confirmed that the three companies will jointly develop a high-performance electric vehicle platform.
The car is named after Battista Farina, who founded Carrozzeria Pinin Farina in 1930, which was later rebranded as Pininfarina Automobili.
The Pininfarina Battista is powered by four electric motors, running on a 120 kWh Li-ion battery pack.
The electric hypercar, Battista, unveiled at the Geneva Motorshow, will be built in strictly limited numbers and will be the most expensive car in the company's line-up.
Tech Mahindra currently owns around 76 percent stake in the Turin-based firm which is known for design work for iconic brands such as Ferrari, Maserati and Rolls-Royce
The Turin-based company generates majority of its revenues from the automotive sector.
Mahindra group-owned automotive design firm Pininfarina today announced a 70 million euros pact with Iran's first automaker Iran Khodro (IKCO) for vehicle development.
Mahindra & Mahindra is assessing the feasibility of a plan to drive in an electric sports car, much like Elon Musk-led Tesla, for which it is looking to couple Mahindra Electric‘s expertise in electric cars with the design capabilities of Italian Pininfarina.
Mahindra group-owned automotive design firm Pininfarina has inked a pact worth 65 million euros (around Rs 460 crore) with Hong-Kong listed Hybrid Kinetic Group for developing an electric car.
Software services provider Tech Mahindra's second quarter profit is likely to fall 12.5 percent sequentially to Rs 697 crore, according to analysts polled by CNBC-TV18.
Last year Mahindra group had announced to acquire Pininfarina for an overall outgo of over 50 million Euros (nearly Rs 370 crore) after months of negotiations.
After the acquisition of 76.06 percent stake in Pininfarina in December last year for nearly Rs 370 crore, Mahindra Group's IT arm Tech Mahindra and the Turin-based firm are now looking to leverage each other's strength to offer complete business solutions to potential clients.
On the sidelines of the Auto Expo 2016, Jagdish Mitra, Chief Stratergy Officer of Tech Mahindra, told CNBC-TV18 the motive behind the purchase of Italian car design company Pininfarina.
According to analysts polled by CNBC-TV18, Q3 may again be a soft quarter for the telecom vertical due to furloughs. It has relatively smaller presence in Chennai, the impact is likely to be in the range of 10-20 basis points (bps). • Cross currency headwind may be 50-60 bps.
Investors should not be worried about Tech Mahindra's recent acquisition of loss-making Italian car design Pininfarina, says its CEO CP Gurnani, who adds that the buyout will up the design capabilities of India's fourth-largest technology-services company.
Kotak says that it would have been better if Tech Mahindra had put its cash to acquire capabilities in the digital or financial services domain, instead. Tech Mahindra needs to be prudent on cash management or else it will risk losing investor confidence in capital allocation decisions.
Mahindra and Mahindra and Tech Mahindra to jointly acquire Italian car design company Pininfarina. Both the companies will first form a special purpose vehicle (SPV) and together will acquire 76.06 percent stake in the company.
Mahindra and Mahindra and Tech Mahindra to jointly acquire Italian car design company Pininfarina. Both the companies will first form a special purpose vehicle (SPV) and together will acquire 76.06 percent stake in the company
Milan-listed Pininfarina has designed cars for Ferrari, Maserati, Rolls-Royce and Cadillac. Its shares closed down nearly 10 percent on Thursday after daily MF reported that there were growing doubts over the success of the talks.
Shares in the renowned Italian car designer were suspended from trading on Thursday after falling more than 10 percent to their lowest level since late August after daily MF reported that there were growing doubts over the success of the talks.
Pininfarina forecast on Thursday a full-year operating loss and said it did not expect to be able to meet at the end of the year a target for earnings before interest, tax, depreciation and amortisation agreed with creditors as part of its debt restructuring.
The key investor in Pininfarina and the group's creditor banks are still seeking to agree a sale but Mahindra is "very cautious and plans to invest in Pininfarina at the lowest possible price", one of the sources said.