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To be based in Europe, Automobili Pininfarina will combine Pininfarina's automotive design prowess with Mahindra's growing electric vehicle (EV) expertise gained from its participation in the Formula E electric racing car championship, the company said in a statement.
The company will design, engineer and manufacture high technology, extreme performance, luxury electric vehicles for the most discerning global customers, it added.
Automobili Pininfarina plans to launch its first model, a 'Pininfarina' badged electric hypercar, in 2020, it said, adding the new company will be led by former Audi India head Michael Perschke as its Chief Executive Officer.
"The Mahindra Group has bet big on electric vehicles. They are the future, and when power, beauty and high end EV technology come together in one car that will be the perfect luxury vehicle, that will give car lovers the freedom to roam without impacting the planet adversely," he added.
Pininfarina SpA Chairman Paolo Pininfarina said Automobili Pininfarina represents an additional client for Pininfarina SpA, joining the list of the many prestigious car makers for which it will be designing cars in the future.
Mahindra and Pininfarina's combined expertise would allow the new company to develop stylish, extreme-performance, electric vehicles for global markets, he added.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)