Indian automaker Mahindra and Mahindra (M&M) has launched ‘Automobili Pininfarina’ as a luxury electric vehicle (EV) company, Mahindra announced in a press release on 13 April. Automobili Pininfarina will design, engineer, and manufacture high-technology, extreme-performance, luxury EVs. Headquartered in Europe, the new company will be headed by Michael Perschke as CEO of the new company. Additionally, Mahindra announced that it will launch an electric hypercar under the Pininfarina badge in 2020.
"We believe that this is the perfect time to launch Automobili Pininfarina, given Mahindra's growing EV expertise from our participation in Formula E racing where we are currently second in the constructors' and drivers' championships, and Pininfarina's design expertise that will allow us to develop stylish, extreme-performance, electric vehicles for global markets," said Dr. Pawan Goenka, managing director, M&M.
Significance: Italian design house Pininfarina has been part of M&M since 2015, when M&M acquired over 76% stake in Pininfarina for close to USD185 million. Pininfarina still functions as a separate company and will be designing the Automobili Pininfarina’s cars. "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 carmakers 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," said Paolo Pininfarina, chairman of Pininfarina SpA.
Recently, it was reported that Pininfarina is expecting a revenue of USD500 million from design and development of hybrids and EVs in the next three to four years. The first Pininfarina brand car, the hybrid saloon concept H600, was showcased at the 2017 Geneva Motor Show last year. The car was designed by Pininfarina for Hybrid Kinetic Group and featured the latter’s microturbine generator range extender. Later in 2017, Hybrid Kinetic and Pininfarina also showcased two new electric sport utility vehicles (SUVs), the K550 and K750, at the 2017 Shanghai Auto Show.
