The electric hypercar will have level 3 autonomous driving system and will be capable of hitting 0-100 kmph in less than 2 seconds
Iconic Italian design firm Pininfarina, owned by Mahindra & Mahindra, is branching out to manufacturing of electric luxury cars under the new brand Automobili Pininfarina. Its first model will be an electric hypercar scheduled for launch in 2020.
The company will design, engineer and manufacture high technology, extreme performance, and luxury electric vehicles. Automobili Pininfarina will combine Pininfarina's automotive design prowess with Mahindra's electric vehicle (EV) expertise gained from its participation in the Formula E electric racing car championship.
The electric hypercar will have level 3 autonomous driving system and will be capable of hitting 0-100 kmph in less than 2 seconds. Its top speed will be over 400 kmph. The vehicle will have a range of over 500 kms on a full charge and will likely be priced under Euro 2 million. Only 100 units of the car will be produced and sold.
Mahindra & Mahindra (M&M) bought 76 per cent in debt-ridden Pininfarina in late 2015 for $28 million. In addition to the stake the Indian giant had promised to pay the brand’s creditors more than $125 million with a further investment of $20 million.
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Mahindra Overseas Investment Company Mauritius (MOICML), a wholly owned subsidiary of Mahindra & Mahindra would hold the entire 100 percent stake of the new company. M&M would invest not more than Euro 30,000 in the new company.
Paolo Pininfarina, Chairman, Pininfarina SpA, said: "We are pleased to welcome the new company, Automobili Pininfarina which represents an additional client for Pininfarina SpA, joining the list of the many prestigious car makers for which we will be designing cars in the future. This project helps me and my family to realize my grandfather's dream of seeing outstanding innovative cars solely branded Pininfarina on the roads".
Automobili Pininfarina will be led by Michael Perschke, as its Chief Executive Officer. Perschke brings with him over 25 years of experience with premium German brands at both headquarter director-level as well as in various market roles. He was the Managing Director of Audi in India and a member of the Management Board of Volkswagen Group Sales India, from 2010 to 2013.
He will be joined by Per Svantesson as Chief Operating Officer. Svantesson brings with him relevant experience including his stints with the Volvo Group and NEVS.