After being approved for a financial rescue that saved it from the equivalent of a Chapter 11 bankruptcy, Italian firm Pininfarina has announced that it will cease contract manufacturing when current production ends. Pininfarina said that it will concentrate exclusively on building electric-cars.
In a press release, Pininfarina said that it will not look to get new contract manufacturing orders after its current contracts expire at the end of 2011. The Italian company is currently working on the Alfa Romeo Brera coupe and Spider and the Ford Focus coupe-convertible.
The company said that it will launch production of the B0, an electric-car that it is building in a joint venture with French company Bollore, in 2010 with volume production to begin in 2011.
Pininfarina B0 is a 4-seater, 4-door, automatic electric-hatchback that is powered by an electric-motor and lithium-polymer batteries produces by BollorÃ©. The B0 will have the capacity to travel 153 miles on a full charge with a top speed of 80 mph.