Tech

Saudi Arabia Receives 30% Share From Pagani

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The Saudi Arabian Public Investment Fund invested in the company by purchasing a 30% stake in luxury car manufacturer Pagani. The investment, which will support the development phase of the company’s new generation vehicles, made the fund one of Pagani’s 3 shareholders.

Italian sports car manufacturer Pagani, which has created some of the most expensive car models in the world, has found a new investor for its cars that will feature next-generation technologies. Saudi Arabian Public Investment Fund (PIF) to contribute to the development stages of new cars to be produced. Received a minority stake in Horacio Pagani SpA.

Saudi Arabia’s Public Investment Fund, known for its investments in various electric car manufacturing companies, has stepped into a long-term partnership with Pagani, one of the top names in supercars, with this move. Saudi Arabian Public Investment Fund 30% of the company Pagani will continue to do what it always does without any interference.

He also invested in Tesla and Lucid Motors

pagani

In a press release last Thursday, it was announced that the Saudi Arabian Public Investment Fund has purchased a minority stake in Pagani. This step of the fund will contribute to Pagani’s long-term development of its technology as well as the tools that will emerge from the ‘lifestyle’ segment.

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PIF bought 30% of Pagani. Thus, together with Nicole Volpi and Emilio Petrone, the fund has become one of the 3 names that have a large share in the company. Being a shareholder of Pagani does not mean that PIF has a say in the company, the only role of the fund in the investment is support. fund before Tesla It also provided such support to electric car manufacturers such as Businessman Horacio Pagani, who worked for Lamborghini for many years before founding Pagani, explains the partnership with these words: “It’s an important step in our long-term growth strategy. It’s an important investment in making our next hypercars unique.”

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