Pininfarina will stop doing contract manufacturing for automakers after its current manufacturing contracts expire in end-2011. It currently builds the Alfa Romeo Brera and the Ford Focus coupe-cabriolet, but volumes have been only about 25% of what was originally planned. It doesn’t mean Pininfarina will be shutting down its production lines though, as they will be used for its Pininfarina B0 electric car (pronounced B-Zero, image shown above), set to go into pilot production in 2010. The Pininfarina B0 is a joint development together with French comapny Bollore.
Everything seems to be going downhill for the Italian company ever since its chairman and CEO Andrea Pininfarina died in a scooter crash sometime last year. The Pininfarina family will no longer be in control this year, as 50.6% of its shares will be transferred to the banks that the company owes money to in exchange for writing off 180 million Euros of the total 597.7 million Euros that the company owes to the banks. The Pininfarina family shares in the company that bears their name will total to only about 4.5% after the share transfer. The banks will be the new controlling shareholder, however they will not ask for any board seats or management changes.
PHOTO GALLERY: Pininfarina B0 Concept
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