Mahindra and Mahindra has officially launched a new high performance EV brand called Automobili Pininfarina. The new company will design, develop and manufacture high performance luxury electric vehicles.

The first model from the new brand will be an all electric hypercar with Pininfarina badging that will go from 0 to 100 kph in 2 seconds and to 300 kph in less than 12 seconds. The new model will be launched in the year 2020. The underpinnings for the hypercar are being co-developed by Croatian super car maker Rimac.

Automobili Pininfarina will be headed by Michael Perschke, who is the ex head of Audi India. He mentioned that the hypercar will be priced at a little under 2 million Euros that translates to around Rs. 16 crore.

The car will have a limited run of only 100 units.

There are more models planned in the lineup and that will include an SUV that will rival the Lamborghini Urus and will come with Level 3 autonomous driving tech.

The operations of the new company will be based in Europe and it will work independent of Mahindra Electric, the parent company’s EV division. Mahindra is said to have made an initial investment of $100 million thats around Rs. 647 crore in the new company.