Thread: Pininfarina exits carmaking business

News to me, sorry if repost:

Originally Posted by Reuters

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Reuters reports that Pininfarina will lay off 127 workers as the company shuts down its manufacturing business to focus more heavily on design and engineering. The Italian company points to the declining automotive market as the reason behind the move. The layoffs are expected to cost the company around €2.9 million, or $3.96 million at current conversion rates.

Pininfarina recently ended a joint venture with Volvo to produce the C70 in Uddevalla, leaving us to wonder where the model would be manufactured in the future. Meanwhile, Pininfarina is busily courting suitors 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 expressed an interest in purchasing part of the family-owned company. In the future, Pininfarina is expected to focus its efforts on contracted design and engineering work.

Didn't know they make cars to begin with.

Sooo what exactly are they going to do if they don't design cars? Whack. They are a household name!

I wasn't aware that they were on the manufacturing side of the business either. I'm sure they will not be letting go of their design business though, that is what they are known for after all.

They should just make a couple hundred 'Bird Cage's' that have the equivalent specs as a Civic, which would be more aimed for its style... that would make some good coin for them and to do what ever automobile aspirations they have after.
Its a shame that government regulations are aimed at squashing entrepreneurship which they claim is for safety... I guess there are limited freedoms for small time kit car builders but if you are going to take money out of corporate pockets by selling something more competitive, be it looks or performance, whole countries can ban ones products. Perfect example, the Huayra being banned in the United States.