Mahindra & Mahindra aiming to buy Italian luxury car designer firm Pininfarina

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Indian car maker Mahindra & Mahindra) is submitting a bid to buy famed Italian car designer Pininfarina. Long famed for its work with Ferrari, Fiat and other luxury car makers, Mahindra & Mahindra is working to present a formal offer for Pininfarina which has undergone financial issues for some time. Pininfarina was founded in 1930 and has designed world class automobiles such as the Ferrari 250 GT. Recently Pininfarina cooperated with Mumbai-based Mahindra on automotive development projects and worked with the Indian company on the Halo electric sports-car concept presented at the Delhi auto show last year. Both Pininfarina and Mahindra say negotiations are secret for now and an outcome is to yet to be confirmed.