And that makes more sense than it sounds
An investment by Mercedes in Pagani, we would not even have found that so special. After all, the Italian sports car brand uses AMG engines. Or a capital injection from Fiat, perhaps. However, it is Saudi Arabia that wins a 30 percent share of Pagani. That reports Bloomberg. Saudi Arabia’s move makes a lot more sense than it might sound.
The government of Saudi Arabia has something called the Public Investment Fund. This is a government investment fund. For example, they have previously invested in Tesla and Lucid Motors because they also want to earn money from mobility in a petrol-free future. They also find luxury brand Pagani to fit well in the portfolio.
Pagani calls the Public Investment Fund an ideal partner to strengthen its position in the hypercar segment and to strengthen its growth strategy in the lifestyle segment. In 2019, the company was still 96 percent owned by the Pagani family. It is therefore a special step for the company and the family.
What is Pagani currently working on?
Pagani is currently working on a successor to the Pagani Huayra. According to the latest reports, this will just get a V12 from AMG. With an eye to the future, Pagani is also working on an electric hypercar. In 2019, big boss Horacio spoke of a release in 2024. Electric cars regularly have the habit of missing their deadlines, by the way.
