The two sides are still negotiating after weeks of talks, and nothing is final yet. Neither side was willing to give an official comment about the deal to Bloomberg.
Mahindra is likely best known in the US for its failed attempt to launch a small pickup in the country after years of trying. The automaker has some history with Pininfarina, though. According to Bloomberg, they partnered to create the Mahindra Halo concept in 2014.
Pininfarina has lost money for 10 of the past 11 years, according to Bloomberg. Nonetheless, the designers there have kept crafting beautiful vehicles like the recent Sergio (pictured above) and BMW Gran Lusso Coupé. With the company still able to create such wonderful shapes, a buyout could be a real boost for the looks of future Mahindra models.