In addition to a merger, Mahindra could list its EV supercar division in another country or go public with its own stock.
According to Bloomberg, Mahindra & Mahindra Ltd., the Indian automaker preparing to start production of its $2.2 million electric hypercar, is looking into ways to raise funds for its subsidiary Automobili Pininfarina.
Munich’s luxury electric car division revealed a prototype of its 1,900-horsepower Battista in 2019, with a top speed of 350 km/h and a range of up to 500 km on a single charge.
In addition to a merger, Mahindra could list its EV supercar division in another country or go public with its own stock.
According to the report, which cites people with knowledge of the situation, the unit could be valued at around $500 million in any deal.
Automobili Pininfarina’s spokesman declined to comment on the report, and the company did not respond immediately to a message left by Reuters after business hours seeking comment.
Automobili Pininfarina had planned to build 150 cars starting in 2020, but deliveries are now set to begin in early 2024, according to the report, which cited a spokesperson for Automobili Pininfarina.
In 2015, Mahindra paid $28 million for a 76.06 percent stake in Turin-based Pininfarina, the designer of some of the most iconic Ferrari, Alfa Romeo, and Maserati models.
Automobili Pininfarina, based in Munich, was founded in 2018 as part of the company’s push to become a key player in the high-end electric vehicle segment.
