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 has been made on the eve of the Rome round of the FIA Formula E Championship series, in which Mahindra Racing is one of the frontrunners.
As reported by Autocar India earlier, ex-Audi India head Michael Perschke will lead the new EV maker. The new start-up will develop its first model, a 'Pininfarina'-badged electric hypercar capable of accelerating to 100kph in 2 seconds, in 2020. While Mahindra hasn't provided any further details, the hypercar will have the performance to rival the 1500hp Bugatti Chiron and use modular underpinnings co-developed by Croatian electric supercar maker Rimac. Company CEO Michael Perschke has revealed the electric hypercar will cost a little below 2 million euros (around Rs 16 crore).
L-R: Michael Perschke, CEO, Automobili Pininfarina; Anand Mahindra, chairman, Mahindra Group; Paolo Pininfarina, chairman, Pininfarina SpA and Dr Pawan Goenka, managing director, Mahindra & Mahindra and chairman, Mahindra Racing at the launch of Automobili Pininfarina.
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," said Paolo Pininfarina, chairman, Pininfarina SpA.
Anand Mahindra: “We will always remain at the high end of the luxury market. There will be no Tesla Model 3 equivalent from us."
“We will always remain at the high end of the luxury market. There will be no Tesla Model 3 equivalent from us,” Anand Mahindra, chairman, Mahindra Group, said today at the event announcing the new company in Rome. He added that the company will develop "a rare collector's item" that will be "an innovative and pioneering product".
The new Pininfarina car-making firm will work independently of its parent’s EV division, Mahindra Electric – with operations based in Europe – as a part of 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 the new venture will look for outside investment to scale up operations.
Also read: Mahindra's high-performance EV start-up: 5 things you need to know