Pininfarina Strikes $68 Million Deal To Build Sexy Electric Car

Coach building is a form of art that became nearly irrelevant once automakers began taking over full control of the design and production process, but a company like Pininfarina has survived and can even be said to be doing well thanks to its reputation as a talented styling house that have been exemplified in concepts such as the Pininfarina Sergio or the upcoming EF7 Concept. However, Pininfarina has also been playing with concept vehicles powered by alternative fuels in order to cement its viability into the future.

This helps secure the company's survival in what's shaping up to become a future where the internal combustion engine is no longer needed. Its latest partnership with Hybrid Kinetic Group Limited (HKGL) only serves to back this sentiment up. HKGL is a company listed on the Hong Kong stock exchange and specializes in what Pininfarina details as "the business of electric cars." The deal, worth €65 million ($68.62 million at today's exchange rates), details how Pininfarina will support HKGL in the development of an electric car. The two companies will work together on nearly all stages of the vehicle, from the design and engineering development to the computer-modeled and physical testing of the car that will ultimately lead to a production unit.

The deal has a duration of 46 months and will doubtlessly serve Pininfarina well by helping it learn more about the production electric vehicles. HKGL will have access to Pininfarina's knowledge on the subject and the creative minds that have penned cars like the Ferrari 250 GT and the Alfa Romeo Spider. Silvio Pietro Angori, CEO of the Pininfarina Group, commented: "Hybrid Kinetic has chosen to cooperate with the Pininfarina Group thanks to the set of skills and technologies in the field of sustainable mobility that we have developed over several years. This agreement confirms the primacy of our Company in the world of automotive design, engineering and production of small series at a time of great change in the automotive world."

We wish godspeed to the new dynamic duo because if we trust anyone to make the next generation of electric cars sexy (sorry Chevy, the Bolt is certainly not that), it's Pininfarina. Note: Pininfarina Cambiano Concept pictured.