Mahindra & Mahindra’s (M&M) ambition to get into the big league of luxury automotive manufacturing will turn into reality when the first Pininfarina-branded hypercar will hit the roads by the end of 2020.
But the all-electric car is unlikely to be introduced in India as sales volumes are expected to be low, given that the price is understood to be in the region of $2 million. The hypercar is targeted at customers in Europe and the U.S.
Collector’s item
“The car under production will be a collector’s item. It will be a product of aspiration and an object of desire. Like art, its value will appreciate over the years,” Pawan Goenka, managing director, M&M, said. It will be a limited edition and a maximum of 150 units will be produced, to ensure exclusivity.
“It is too early to say how much the car will cost but it be an expensive one,” Dr Goenka said.
The car is being developed in Europe by Automobili Pininfarina, a 100% subsidiary of M&M. This company will manufacture the car under the brand name Pininfarina, which is a marquee global automobile brand.
It has been done through a brand licensing agreement with Italian automobile design firm Pininfarina SpA . In 2015, the Mahindra Group acquired 76% stake in this firm, which is being run independently.
For Pininfarina SpA, which has designed sports and luxury cars for Ferrari, Maserati and Rolls-Royce, to name a few, Automobili Pininfarina is a client and the design firm has ‘nothing to do with the production of the new hypercar.’
“Both are separate companies. Even people from the automotive sector of Mahindra do not sit on the board of Pininfarina SpA, to ensure client confidentiality,” Dr. Goenka added.
While the first car will be out from the shop floor by the end of 2020, the company, in the future, will produce a range of high performance electric vehicles for the global market.
