M&M launches its luxury EV brand in Europe

By: |
Mumbai | Published: April 14, 2018 4:23:03 AM

In a release, the company said the brand will “design, engineer and manufacture high technology, extreme performance, luxury EVs for the most discerning global customers”.

Mahindra & Mahindra (M&M) on Friday said it will be launching its luxury electric car brand, Automobili Pininfarina, in Europe, with the first hypercar scheduled for 2020. (Reuters)

Mahindra & Mahindra (M&M) on Friday said it will be launching its luxury electric car brand, Automobili Pininfarina, in Europe, with the first hypercar scheduled for 2020. In a release, the company said the brand will “design, engineer and manufacture high technology, extreme performance, luxury EVs for the most discerning global customers”. Indicating that the new company will draw “pedigree and design vocabulary of the Pininfarina”, Anand Mahindra, chairman, Mahindra Group, said, “We will develop a rare collector’s item that only a handful of connoisseurs will ever own. It will be an innovative and pioneering product powered by high technology.”

He added: “Mahindra Group has bet big on EVs. They are the future, and when power, beauty and high-end EV technology come together in one car, it will be the perfect luxury vehicle.” Pawan Goenka, managing director, M&M, and chairman, Mahindra Racing, said, “We believe that this is the perfect time to launch Automobili Pininfarina, given Mahindra’s growing EV expertise. Pininfarina’s design expertise that will allow us to develop stylish, extreme-performance, electric vehicles for global markets.” Automobili Pininfarina GmbH, the new company under which the luxury EV brand would exist, will be a wholly-owned subsidiary of Mahindra Overseas Investment Company, Mauritius.

Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

Next Stories
1Reopening Salons: Blame coronavirus for costlier makeovers
2ArogyaSetu remains among top 10 downloaded apps globally in May: NITI Aayog CEO
3Canara Bank cuts in repo-linked lending rate by 40 bps