New Delhi, Apr 13 (PTI) Homegrown auto major Mahindra & Mahindra today announced the launch of its luxury electric vehicles brand, Automobili Pininfarina.

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.

Mahindra Group Chairman Anand Mahindra said the products from Automobili Pininfarina will be innovative and pioneering, powered by high technology.

“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.

M&M Managing Director Pawan Goenka said Mahindra has gained EV expertise from its participation in Formula E racing where it is currently second in the constructors’ and drivers’ championships.

Mahindra and Pininfarina’s combined expertise would allow the new company to develop stylish, extreme-performance, electric vehicles for global markets, he added.

In 2015, M&M and its group firm Tech Mahindra had agreed to buy 76.06 per cent stake in the Italian car designer Pininfarina SpA, for 25.3 million euros through a special purpose vehicle (SPV).

This is published unedited from the PTI feed.