Pininfarina ceases car manufacturing to focus on design

Pininfarina ceases car manufacturing to focus on design

Italian coach builder Pininfarina is set for a big shake up that will see 127 workers made redundant when the company shuts down the manufacturing arm of its business. The iconic firm will now focus on what its more traditional strengths of design and engineering. The company points to the declining automotive market as the reason behind the move.

The redundancies and structure changes are expected to cost the company around €2.9 million. Pininfarina is also getting busy trying to find an investor to purchase a stake in the design firm as part of a debt restructuring agreement with the company’s creditors. French billionaire Vincent Ballore is one investor who has shown an early interest in purchasing part of the family-owned company.

In the future, Pininfarina hopes to turn a profit through contracted design and engineering work.

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