The world’s maiden luxury carmaker owned by Mahindra and Mahindra Ltd, Automobili Pininfarina, is all set to launch its limited edition first car at $2 million (₹13.4 crore) towards the end of 2020.
The firm will likely introduce two more products aligning with the needs of a wider audience.
Pawan Goenka, managing director, M&M said,“This is a way to introduce Pininfarina as a brand and create a brand halo, and follow a top-down approach.”
Automobili Pininfarina is a unit of Pininfarina SpA owned by Anand Mahindra led Mahindra and Mahindra Ltd. The move will grant Mahindra its long-awaited desire to incorporate luxury car brand under its portfolio.
Interestingly, Mahindra has bid for various luxury brands in past including Aston Martin, Volvo and Jaguar Land Rover among others. However, the company now aims to modify its strategy to grow Pininfarina into a luxury brand by leveraging the Italian firm’s legacy.
As informed by Goenka, The limited edition model has been code named PF0 that will be soft launched at Pebble Beach Concours d’Elegance in California in August. Notably, Pininfarina will develop an electric sports car and sell it under its own badge.
Pininfarina is a Turin based design and engineering brand that got acquired by Mahindra in December 2015 for around $185 million.