Pininfarina Hangs Hopes on Bollore Electric-Car Venture

The Italian niche car maker, design and engineering firm last December entered a 50/50 joint venture with Bollore Group SA, a French conglomerate with ambitions to become an auto maker.

The agreement calls for building up to 1,000 4-seat electric cars in 2009 and up to 15,000 annually by 2013, should the market develop.

But Pininfarina, short of cash and lacking customers, announced earlier this week a need to increase capital by €100 million ($150 million). A spokesman ...