Panoz HistorySource: http://www.panozauto.com/History.htmIn the early 1900's Eugene Panunzio immigrated to the U.S. from Italy and became a champion boxer. Like other immigrants, he shortened his last name and 'Panoz' stuck. The family settled in Morgantown, West Virginia and in 1960 his son, Donald, invested monies from members of the World Champion Pittsburgh Pirates baseball team to start Mylan Laboratories, the first of two pharmaceutical companies that would go public.
By 1969 Donald had moved his wife and family to Athlone, Ireland to start Élan Pharmaceuticals. Élan is most noted for developing the time-release and transdermal delivery technology found in the nicotine patch and heart medications such as Cardizem.
In 1988 Donald's 26-year old son, Daniel, applied for a job with the Thompson Motor Company (TMC), a small Irish car builder. When he found the company was being liquidated he saw an opportunity and instead purchased the rights to one of its chassis designed by Frank Cozworth. Cozworth was well known for building racecar chassis for Maserati, Lotus and Lister.
The following year Panoz started the Panoz Automotive Development Company. Using Cozworth's chassis as a philosophical starting point, Daniel and two former TMC engineers began work in their new workshops; a converted 2,000 square-foot Department of Transportation salt storage shed located about 50 miles northeast of Atlanta, Georgia.
The Panoz Swirling Crest was designed by Daniel Panoz himself and has become widely recognizable. The red, white and blue coloring reflects the fact that Panoz is an American company. The more prominent red and blue swirls are a tribute to the integration of balance and symmetry represented by the Yin-Yang symbol. 'At the time Japan was treading on sacred ground, challenging the Europeans,' said Panoz. 'I was impressed with the way they took on the establishment by being aggressive but smart.' he added. The centerpiece is a shamrock which carries the company's and the family's Irish roots.
Innovation builds better cars. It is the spirit of innovation that once made the American car great and it is the same spirit that drives us. At Panoz we revere the heritage of the American car but we are not bound by its tradition. We believe there are many who share that spirit waiting to be awakened by an automobile long thought dead.
We will go to any lengths necessary to build a better automobile. Every Panoz automobile is designed, engineered and built with the pride and passion once found in cars brought to life by those who believed driving should be an experience, not simply a means of transportation. That passion burns in the hearts of every member of our dedicated team and will continue to do so as long as there are roads to be driven and races to be won.
As America's premier manufacturer of limited production, high performance automobiles it is our goal at Panoz to become the best small-volume automobile manufacturer in the world and a springboard for new automotive technologies through innovation, dedication and an unwavering love for the automobile.