April 14: Pininfarina, the design house of Italian vehicles including Ferrarri and Lamorghini, is getting a big facelift under Mahindra & Mahindra. The design house will now feature as an electric luxury brand under the Indian company in the name ‘Automobili Pininfarina’.
Under the brand, Mahindra will also have its first electric hypercar launched by the year 2020. Automobili Pininfarina will be behind the design, engineering and manufacturing of the extreme performance luxury electric vehicle. The announcement was made by Paolo Pininfarina, chairman of Pininfarina along with M&M chairman Anand Mahindra and managing director Pawan Goenka on the eve of the Formula E Rome e-prix.
M&M chairman Anand Mahindra said in an interaction to a news source that the history of Pininfarina reflects the story and dream of Battista, the founder of Pininfarina, adding that the story would be completed by the new team.
Speaking of the new journey, Automobili Pininfarina CEO Michael Perschke has been quoted as saying that that the endeavour would aim to create a new chapter in the luxury brand world. We are a serious startup and writing a new chapter in the luxury brand world, he said.
The new brand will take on the likes of Buggatti and Lambhorgini in the electric segment with the launch of premium electric hypercar under 2-million euros. Currently under development, the luxury model will be sold in limited units to customers across the globe.
Pininfarina is a subsidiary of the Mahindra Group, with the latter holding a majority stake jointly with Tech Mahindra. The newly formed Automobili Pininfarina will however be a wholly owned subsidiary of Mahindra & Mahindra.