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Italian coachbuilder Pininfarina is seeking a £77m investment in order to ensure its future.
Analysts are putting the massive losses sustained by the 78-year old coachbuilder (£87m in 2007) down to taking on too much work in the past, with quality suffering as a result. In recent years, a large part of the company's business has come from designing and constructing small volume niche models for major manufacturers, with recent examples including the Mitsubishi Colt CZC and Alfa Romeo Brera.
But manufacturers have been moving away from such third-party construction, and as a result Pininfarina has announced that it will scale back its car production activities and take a "more selective approach to contract vehicle manufacturing".
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