Pininfarina SpA and Volvo Car Corporation have signed an agreement with the aim of developing and manufacturing Volvo's next generation convertible.
A joint venture company will be formed and based in Uddevalla, Sweden, where the current Volvo C70 convertible has been built since 1997. This new company, which will be called "Pininfarina Sverige AB", will be responsible for all operations at the Uddevalla plant, including project management, process engineering, prototyping and testing services.
Pininfarina will hold a majority 60 per cent shareholding, with Volvo Car Corporation holding the remaining 40 per cent. The top management structure, which has not yet been decided, will be a combination of Pininfarina and Volvo executives.
"We are happy to be able to continue to offer our customers convertibles, and to do so by co-operating with such a well established and well respected partner as Pininfarina," said Hans-Olov Olsson, President and CEO of Volvo Car Corporation.
"This co-operation with Volvo Car Corporation is an outstanding example of our full service provider strategy," said Pininfarina CEO Andrea Pininfarina.
"Besides handling the engineering development of a new Volvo convertible, we will also be responsible for its production in Sweden."
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