Speculation is mounting that the Italian design house that styled some of Ferrari's most iconic models will be saved from financial ruin by none other than Mahindra.
A report published by Automotive News Europe credits two anonymous sources with the news that Mahindra will lodge a formal bid on April 29 for Pininfarina, the Italian styling studio renowned for scores of the most visually arresting cars the world has ever seen.
Near the end of March, Pininfarina, currently struggling under a mountain of debt, announced that the Indian firm had expressed interest in acquiring it. Since then, information has dried up, with no one at Mahindra willing to speak on the record. That's not surprising, since the share price of Pininfarina has risen 40 per cent since the original announcement – on the presumption the design studio will be snapped up. All Mahindra has said since is that it has NOT entered into an agreement to buy Pininfarina, despite reports in the media indicating negotiations were near conclusion.
Established in 1930, Pininfarina quickly built itself a reputation for exciting designs, often but not exclusively Ferraris. Some of the non-Ferrari production cars designed by the company over the years included the Austin A40 Farina, Peugeot 405, Alfa 164, Peugeot 406 Coupe and the Volvo C70.
Ferraris designed by Pininfarina in the past included the 275 GTB, 330 GTC and GTS, Berlinetta Boxer, 308, Testarossa, F40, 348, 456 GT, F355, F50, 360 Modena, 550 Maranello, 612 Scaglietti, F430 and 599 GTB Fiorano. Among the latest Ferrari designs penned by the styling studio are the California, 458 Italia, FF and F12Berlinetta.
Until 2011 the company built low-volume cars on behalf of mainstream manufacturers.
Currently the firm is estimated to be worth €162 million.
Picture of Austin A40 Farina courtesy of Charles 01/Wikimedia Commons