Mahindra & Mahindra today officially launched its new high-performance EV brand, Automobili Pininfarina that will "design, engineer and manufacture high technology, extreme performance, luxury electric vehicles". The announcement comes nearly three weeks after Autocar India exclusively broke the news.
Ex-Audi India head Michael Perschke will lead the new EV company, which will develop its first model – a Pininfarina-badged electric hypercar capable of accelerating to 100kph in 2sec and 300kph in less than 12sec – in 2020. While Mahindra hasn't provided any further details, our exclusive story revealed the hypercar will have the performance to rival the 1,500hp Bugatti Chiron and use modular underpinnings co-developed by Croatian electric supercar maker Rimac. Perschke, however, has revealed the electric hypercar will cost a little under 2 million Euros (around Rs 16 crore).
The model run will be limited to 100 units, and the line-up, which will also have SUVs, including a Lamborghini Urus fighter, will be equipped with Level 3 autonomous driving technology. Vehicles developed by the new company will leverage legendary design house Pininfarina's automotive design expertise.
The formation of Automobili Pininfarina fulfils the dream of Pininfarina's founders to make a road car under its own brand name. "This project helps me and my family to realise my grandfather's dream of seeing outstanding innovative cars, solely branded Pininfarina, on the roads," Paolo Pininfarina, chairman, Pininfarina SpA said.
“We will always remain at the high end of the luxury market. There will be no Tesla Model 3 equivalent from us,” said Anand Mahindra, Chairman, Mahindra Group. He further added that the company will develop "a rare collector's item" that will be "an innovative and pioneering product".
Today's announcement has been made on the eve of the Rome round of the Formula E series, in which Mahindra Racing is one of the front runners.
With operations based in Europe, the new Pininfarina car-making firm will work independently of its parent’s EV division, Mahindra Electric, in a conscious bid to create an all-new eco-system and culture that is required in this fast-paced business. The new company is said to have received an initial investment of around $100 million (around Rs 647 crore) from Mahindra, after which it will look for outside investment to scale up operations.