Pininfarina, Volvo, sign convertible agreement

24 September 2003: Pininfarina 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 percent shareholding, with Volvo Car Corporation holding the remaining 40 percent. The top management structure, which has not yet been decided, will be a combination of Pininfarina and Volvo executives.

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