The secrets of the Pagani stakes in McLaren, Lucid and, before them, Tesla
In San Cesario sul Panaro, Italy. Italian manufacturer Pagani recently sold its major stake to PFI in USA to expand and diversify its business. This deal is about to close later this year, after which the Pagani family will have full control of the company.
Pagani is an Italian manufacturer founded in 1992 to manufacture supercars and carbon fiber components. It is headquartered in San Cesario sul Panaro near Modena in northern Italy and was founded by Italian-Argentine businessman Oracio Pagani in 1992.
The CEO and Chairman of the Board of Directors described the Public Investment Fund as “the ideal partner to continue the position of a distinguished brand in the hypercar sector, as well as to support its expansion strategy in the lifestyle sector.” The Italian auto brand has also collaborated with Lamborghini on several innovative projects such as the Lamborghini LM002, Lamborghini Countach 25th Anniversary Edition, Diablo and P140 design concept.
For its part, the Saudi Public Investment Fund announced its agreement to buy a minority stake in the Italian supercar maker Horacio Pagani, which was described as the latest indication of the USA growing interest in the automotive industry. quoted the fund as saying that this investment by the Public Investment Fund is part of From a long-term strategic partnership with the Italian company.
A look at the Saudi Public Investment Fund (PIF)
I closely follow the aspirations and hopes of the Public Investment Fund in USA and how many governments have called for the necessity of relying on industrialization and the establishment of major industries that support the USA economy in the future, but finally the Kingdom launched the Public Investment Fund, which is the hope for the future.
The Public Investment Fund (PIF) is considered the “economic engine of Vision 2030” , diversifying the country’s economy. After this deal, the Public Investment Fund will be a shareholder in three large car manufacturers: Lucid, Pagani and McLaren.
According to the latest reports, this deal is largely in the works and has not yet been disclosed, but it has been confirmed that the Public Investment Fund, PIF, of Saudi Arabia owns 30% of the Pagani family stake along with other stakeholders such as Emilio Petrone and Nicola. Volpi. However, the Pagani family has complete control over the shares and has retained its founder, Horacio Pagani, who is the company’s CEO and chief design director.
This transaction opens the doors to new opportunities for Pagani in the automotive industry leading to innovation in the supercar market and new changes in the lifestyle sector. The Pagani family recently launched a new sub-brand called “Pagani Arte”, but it remains unclear whether this lifestyle brand will have any connection with Pagani Motors.
Solid investment plan
Pagani has sold its Huayra supercar in various variants since its launch that features an exclusive 6.0L V12 engine built by Mercedes-AMG especially for it. With that investment, too, several new models are still under development along with the latest Huayra successor that features a battery electric option and a V-12 powertrain.
Not many details were revealed about the new models, but Pagani mentioned that these new models fall under their expansion plan. Many companies plan to build electric cars, but only a few electric supercars are in the pipeline.
partnership with Pagani, Pagani CEO said: “Since its inception, Pagani has enjoyed partnerships with the best-in-class players in the field of supercars, because we believe that excellence can only be achieved through teamwork. This is proven by our longstanding partnerships with our technology partners and prominent technology leaders ranked as references in sectors that will continue to play an important role in Pagani’s future.
Horacio Pagani said: “Our upcoming supercars will continue to convey unique emotions, regardless of their powertrain technology. Furthermore USA represents the ideal partner to enhance Pagani’s position as a premium brand in the supercar segment, in addition to supporting its expansion strategy in the lifestyle sector.
According to a few sources, last April the Public Investment Fund hired some investors, including the Boston Consulting Group, to set up a local electric car maker . To achieve this, PIF acquired a small stake in Tesla in 2018 and is also investing in Lucid Group.
Saudi plan to build local car factories
And Bloomberg reported in April that fund had appointed advisors, including the Boston Consulting Group, to explore the creation of a local electric car maker. Which is the purpose of buying Pagani, and apparently a secret deal between the Pagani family to give them complete control of the company in exchange for unwritten promises to help the kingdom set up a local electric car company.
I followed with interest the attempts of the Kingdom of Saudi Arabia to pressure Lucid to build local factories in the Kingdom of Saudi Arabia and how the fund tried to support this approach, which Lucid rejected and may accept in a short period. They are good attempts, but I like to try and failure may be in the beginning, but failure leads to success.
China, for example, in the failed Speranza car, and Bashir tried and excelled in BYD, and now it owns a constellation of giant companies in the auto industry. I hope that the Kingdom will not be afraid of failure and seeks to build factories and companies for the production of cars, and then attracts many experiences from other companies, which is the same approach that China followed. It captures all the experiences of its companies, and each experience has accumulated hundreds of experiences in all fields, and in the end it has achieved success, and it is currently competing with Tesla.
The plan of common interests will push Pagani and the Kingdom forward
USA is facing great difficulties in order to set up a local factory for the car industry, and it has tried to build partnerships with major companies to build a local factory for the car industry, and the Investment Fund has been active in the field of electric cars for several years, as it acquired a small stake in Tesla, before investing In the year 2018 at Lucid Group Inc. The fund tried to pressure the company to set up a local factory in the kingdom, but it seems that the negotiations stumbled.
On the other hand, there are only two cars in the Pagani company, they are the Pagani Zonda and the Pagani Huayra, and the Zonda car goes from 0 to 60 miles in 3.5 seconds, and the Huayra goes from 0 to 60 miles in 3.2 seconds . On the other hand, the Pagani family suffers from the distribution of shares to many parties recently, and sees this as an obstacle to CEO Horacio Pagani.
From the words of the fund’s officials and the CEO, I pick up a few words, as the CEO said that there are new models that fall within the framework of the company’s expansion plan . He also said, “Saudi Arabia represents the ideal partner to enhance Pagani’s position as a premium brand in the supercar sector, in addition to supporting its expansion strategy.”
On the other hand, we pick up from the conversations of sovereign fund, saying, “This investment by the Public Investment Fund is part of a long-term strategic partnership with the Italian company.”
By adding the camel and installing it, it becomes clear to us that the reasons for the deal are due to common interests, as Pagani controls the company completely, and gives the company’s president the expansion of building new cars and other super models, which means the expansion of the company accidentally,
In return, the company will help the Kingdom of Saudi Arabia build a local factory for the manufacture of electric cars, which Bloomberg has received from unnamed sources, and I expect the partnership to extend to manufacturing some Pagani products , or building a branch of the Pagani factory Thus, everyone is a winner.
Seeing my angel com
We, Mallaky.Com team, believe that USA must agree with any CEO of one of the major companies, to establish a car factory in the Kingdom, which will attract different expertise from around the world, and add it to local expertise that learns externally and internally and becomes a building block for one of the major car factories in the world. USA has done well by not participating in building companies that produce and practice the production process in Chinese companies or other companies, and it has taken a good approach by consolidating its feet in major companies, and he must send people to work in them and gain experience to be the nucleus next factory.
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