Pininfarina, agreement with Bolloré and Cecomp for the production of electric cars
Pininfarina, Cecomp, Véhicules Electriques Pininfarina-Bolloré and Bolloré signed an agreement for the production of the cars destined to the Autolib car sharing service in France
Turin, March 10 2011 - Pininfarina executed yesterday a preliminary biding contract with Cecomp and the Bolloré Group pursuant to which Pininfarina will lease to Cecomp the business operations for production of 4,000 electric cars destined to Autolib, a car sharing service that will be operational in October 2011 in Paris and in 40 other municipalities in the Île-de-France district.
This contract will be effective upon completion of the trade unions consultation procedures and will be in effect until December 31, 2013, for a total value of 14 million euros.
The abovementioned business operations basically consist of:
(a) the Bairo Canavese plant;
(b) the machinery, equipment and accessories currently available at the plant;
(c) some contracts for the supply of utilities;
(d) the contractual relationships currently in effect between Pininfarina and 57 Pininfarina production employees.
The electric cars that Cecomp will produce at Pininfarina's Bairo Canavese plant - derived from the Pininfarina Bluecar, a project unveiled at the 2008 Paris Motor Show - will be used for a public electric car rental service developed by the City of Paris. The call for tenders to supply 4,000 cars was won by the Bolloré Group, with which Pininfarina established the Véhicules Électriques Pininfarina-Bolloré joint venture for the production of electric cars in 2008.
The Bolloré Group and Véhicules Electriques Pininfarina-Bolloré undersigned the contract as guarantors of Cecomp's obligations not covered by bank guarantees.
The signing of this agreement represents a key step forward in the implementation of future programs for the production of electric cars on a larger scale, which are the basis for the agreements between the Pininfarina and Bolloré Groups.
