Pagani has received a fresh cash injection from Saudi Arabia’s Public Investment Fund as part of a long-term strategic plan to improve its technology and expand on its current lifestyle offerings.
Pagani will maintain full control of the company with the Saudi Arabia Public Investment Fund which joins the manufacturer and a minority shareholder alongside Nicola Volpi and Emilio Petrone. This is not the fund’s first stake in the automotive sphere, as it has been active in the electric vehicle space having acquired a stake in the Lucid Group.
Pagani says “Ever since its foundation, Pagani has enjoyed partnerships with best-in-class players, as we believe that excellence can only be reached through team-work. This is proven by our long-standing partnerships with our technology partners –clear technology leaders in their reference sectors- that will continue to play an important role in Pagani’s future.
“Today we are proud to announce an important partnership with PIF, a key step in our long-term growth strategy, which envisages significant investments to ensure that our next hypercars will keep conveying unique emotions, irrespectively of their powertrain technology.
“PIF represents the ideal partner to further consolidate Pagani positioning as an iconic brand in the hypercars segment as well as to support its expansion strategy in the lifestyle segment.”
Pagani was founded in 1992 in San Cesario sul Panaro, Modena, Italy by Horacio Pagani whose notable work also includes the 25th Anniversary redesign of the Lamborghini Countach and the LM002 somewhat utilitarian SUV. The company’s first product was released in 1999 with the Zonda C12 moniker. This car sported AMG’s 6,0-litre V12 engine that delivered 294 kW and 550 N.m of torque. Currently, the company employs 55 people.
The Public Investment Fund is described to be one of the largest and most impactful sovereign wealth funds in the world, driving the economic transformation of Saudi Arabia with the goal to benefit its people while helping shape the future global economy.
