Pininfarina sold to Ssangyong owners Mahindra for £120 million

India’s Mahindra and Mahindra – owners of Ssangyong – have bought iconic Italian car design firm Pininfarina in a deal worth around £120 million.

Famous car designers have become a bit like famous supercar makers: without a strong parent company they tend to struggle and run out of money.

In the supercar world, most of the supercar brands now have the umbrella of a much bigger patron – think Audi and Lamborghini, Ferrari and Fiat – and the same applies to car designers, with famous names like Ghia owned by Ford and Giugiaro by Audi. And now you can can add Pininfarina to the list.

Pininfarina has been acquired by Indian giant Mahaindra and Mahindra as they look to echo the success of Tata in the car world (they already own Ssangyong and PSA’s old motorcycle division), in a deal worth around £120 million.

Mahindra are buying a 76 per cent share in Pininfarina for €25.3 million, investing an additional €20 million and guaranteeing creditors to the tune of €114.5 million.

It seems Pininfarina will stay an independent company after the Mahindra investment – with the founder’s grandson, Paolo Pininfarina, as Chairman – so we’re not entirely sure what plans Mahindra has for the Italian designer. Perhaps they’re planning a Ssangyong by Pininfarina?

But whatever Mahindra’s plans, it means a legendary name in car design can continue what it’s been doing since 1930, since when it’s designed cars for Ferrari, Alfa Romeo, Maserati, Lancia and Bentley, amongst others.