Pininfarina To Cease Contract Manufacturing, Transfer Ownership To Banks

It’s been a rough few years for Italy’s coachbuilders, and times aren’t getting any easier. Bertone almost went under before a rescue plan was approved by the courts at the eleventh hour, and now Pininfarina is poised to follow them down the same path. Drowning in nearly €600 million in debt, Pininfarina is set to shut down its contract manufacturing operations and concentrate on its own electric vehicle initiative while the family loses control of its company to the banks.

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