Pininfarina's had a rough time of it lately, what with its huge debt and the death of its CEO. But now that it's gotten a little breathing room from its creditors, the famed Italian coach builder is proceeding with plans for an electric car it will unveil at the Paris Motor Show.
Pininfarina is developing the car with French battery company Bollore and says it will be available in Europe, Japan and America by the end of 2010. The two companies are keeping the four-seater's design under wraps for now, but let's hope it looks more like the Sintesi (pictured) concept Pininfarina brought to the Geneva auto show last spring and less like the boxy Blue Car concept that Bollore unveiled two years ago.
Although the car Pininfarina will roll out next month is just a concept, the firm says it will have a production model ready for the Geneva auto show in March.
According to Automotive News (free sub. req.), Pininfarina and Bollore will build 2,000 cars in 2010. That'll jump to 8,000 by 2011, and climb steadily to 15,000 by 2014. Unlike other EV's and plug-in hybrids in the pipeline that use nickel-metal hydride or lithium-ion batteries, Pininfarina will use a lithium-metal-polymer battery developed by Bollore. Such batteries differ from li-ion in that each cell is encased in steel and electronically monitored to keep tabs on operating efficiency, voltage and temperature.
When Pininfarina and Bollore announced the car in December, they promised a top speed of 80 mph and a zero-to-50 kilometers per hour (31 mph) time of 4.9 seconds. Look for a range of 125 miles on an eight-hour charge from a standard wall socket, with a 5-minute charge being enough to get another 15 miles or so out of the battery. Pininfarina says the battery will have a lifespan of 125,000 miles.
Pininfarina will build the EV in Europe and sell it under its own name. The car is seen as central to the 78-year-old company's revival. Pininfarina recently restructured 600 million Euros of debt in a deal that extends from three years to seven the time line for repayment. The Pininfarina family will cut its ownership stake from 55 percent to about 30 and allow a group of investors -- including Vincent Bollore -- to become shareholders. The deal brings about $142 million in new capital into the firm, and the money will be used to develop the EV.
Photo by Pininfarina.
