Cost cuts, refocusing on the automotive business helped the restructuring succeed, Angori said.
Pininfarina, founded in 1930 by Battista “Pinin” Farina, was bought in 2015 by India’s Mahindra & Mahindra.
Its other businesses are micro-mobility, city cars with low environmental impact, yachts and urban design.
Potential targets include digital designers, to eventually expand the business of consumer-experience services and virtual reality technologies, the CEO said.
Angori aims to gradually increase the company’s revenues from its non-automotive business to 50 percent of the total, from 25 percent now, during the next three years.
“Automotive will still be key, but we want to widen more our range of vision and of action,” Angori said.
Source: https://europe.autonews.com/suppliers/pininfarina-looks-acquisitions-after-return-profit