Saudi Arabia Buys Stake In Italian Supercar-Maker Pagani
Italian hypercar manufacturer Pagani has a new investor that promises funds for new tech development. Saudi Arabia’s Public Investment Fund known as PIF has taken a minority stake in Horacio Pagani SpA to help fund the hypercar manufacture’s next steps in vehicle development. This minority stake in Pagani follows PIF’s investment in electric can manufacturer Lucid and will be a unique and exciting part of their investment portfolio.
Pagani was founded in the early 1990s when Horacio Pagani, a long-time Lamborghini employee struck out on his own. Pagani began his independent career as a source of prototyping and carbon fiber components for Lamborghini. Pagani’s design expertise was also highly sought after which prompted Horacio to start Modena Design in 1991.
The entire time Horacio Pagani worked to build his consulting businesses; he was working on his own car design. This design would eventually birth the original Pagani Zonda C12, the genesis of the now legendary Zonda lineup of hypercars. The chassis and aero were completed by Dallara and the V12 engine came from the team over at Mercedes-AMG to create one of the greatest cars of all time. Pagani refined the Zonda over time and created over 30 unique special editions to keep customers lining up for their multi-million-dollar hypercars.
Today Pagani continues their trend of excellence with the Huayra hypercar which debuted in 2011 to replace the Zonda. Although the Huayra had a difficult time converting the Zonda faithful at first, it has found its own place in the competitive hypercar market as one of the best vehicles money can buy.
Horacio Pagani described the PIF deal to Arab News, “a key step in our long-term growth strategy, which envisages significant investments to ensure that our next hypercars will keep conveying unique emotions.” We look forward to seeing the impact of this investment on Pagani’s future vehicles.