Mahindra Weighing Electric Supercar Unit Funding Options: Report

- Advertisement -
  • A merger with a blank-check company is one scenario being studied for Automobili Pininfarina, the people said, added the report.
  • The report added that Mahindra could seek to value the unit at around $500 million in any deal, the people said

As per a report by Bloomberg, Mahindra & Mahindra Ltd. is weighing options to raise funds for its Automobili Pininfarina unit as it seeks to bring a delayed $2.2 million electric hypercar into production, people with knowledge of the matter said. It’s considerations include a potential overseas listing of the EV supercar business, according to the people, who asked not to be identified because the information is private. A merger with a blank-check company is one scenario being studied for Automobili Pininfarina, the people said, added the report.

The report added that Mahindra could seek to value the unit at around $500 million in any deal, the people said. Mahindra is looking for ways to speed up development, as Automobili Pininfarina hasn’t yet begun deliveries of the 1,900-horsepower Battista it showed as a prototype in 2019. It added that the people said that deliberations are at an early stage, and the structure of any potential deal hasn’t been finalized, the people said. The report added that a spokesperson for Automobili Pininfarina referred queries to Mahindra. A representative for Mahindra didn’t immediately respond to emails and phone calls outside regular Indian business hours.

The report said that Mahindra set up the electric hypercar unit to cash in on the brand value of Pininfarina SpA. Mahindra took control of Pininfarina in 2015 with a plan for the company to make cars under the brand name for the Automobili unit. The design business wouldn’t be part of any transaction, the people said.

- Advertisement -

Most Popular Articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here
Captcha verification failed!
CAPTCHA user score failed. Please contact us!

Exclusive

Indian Automobile Industry Value Surges 19% In FY 2023-24

0
India's vehicle production grew by 10%, with a 19% increase in value.  The UV + SUV segment saw the highest growth, with a 23% rise...

Deadstock Or Forgotten Treasure?

0
In a world where technology is advancing at a breakneck speed, are the deadstock electronics components in your warehouse on the verge of becoming...

Breathing Through “First-Time Silicon Success”

0
No one is born a leader, but the choices we make in life propel us to become a leader. For Chitra Hariharan, an innocent...

Buzz

Vitesco Debuts Single-Module Rotor Lock Actuator For EVs

0
Integration of park lock, rotor position sensing, and brush system into a single module for electric axles simplifies design, reduces space requirements, and lowers...

Indian Automobile Industry Value Surges 19% In FY 2023-24

0
India's vehicle production grew by 10%, with a 19% increase in value.  The UV + SUV segment saw the highest growth, with a 23% rise...

Goenka Green’s ElectroRide To Raise $10-15M In FY25, Expanding To 4Ws

0
Electroride has set ambitious goals for FY25 to expand its business significantly. The company targets a revenue range of USD 12-15 million in FY25...

Important Sectors

Vitesco Debuts Single-Module Rotor Lock Actuator For EVs

0
Integration of park lock, rotor position sensing, and brush system into a single module for electric axles simplifies design, reduces space requirements, and lowers...

Goenka Green’s ElectroRide To Raise $10-15M In FY25, Expanding To 4Ws

0
Electroride has set ambitious goals for FY25 to expand its business significantly. The company targets a revenue range of USD 12-15 million in FY25...

MAHLE Launches X30 Drive System For Electric Bikes

0
The system maintains compatibility with all components, accessories, and the digital ecosystem of the existing X20 system. MAHLE SmartBike Systems has unveiled its X30 drive...

MeitY Plans Billion-Dollar Subsidy Scheme For Component Manufacturing

0
Reports indicate that the Government will offer subsidies for lands obtained to manufacture electronics components in categories where the investment-to-output ratio is not high. The...

Government Revamps PLI Scheme To Boost Telecom Manufacturing

0
The government revamps the PLI scheme for the telecom sector, boosting exports and incorporating more MSMEs, with increased allocation from Rs 1,000 crore to...

Manufacturing

Deadstock Or Forgotten Treasure?

0
In a world where technology is advancing at a breakneck speed, are the deadstock electronics components in your warehouse on the verge of becoming...

Honeywell Creates AI Software For Gigafactory Efficiency

0
Honeywell anticipates that its new battery manufacturing excellence platform will lower the costs of cell production, speed up the ramp-up cycles, and decrease material...

Raju B Ketkale Named CEO Of Lumax Industries

0
He takes over from Vishnu Johri, who is stepping down for personal reasons. Lumax Industries Limited, a Tier-1 automotive lighting system and component manufacturer within...

Schaeffler And Symbio JV Innoplate Starts Fuel Cell Plate Production

0
Starting with an initial production capacity of 4 million bipolar plates, the Innoplate joint venture is projected to achieve an annual output of 50...

Tesla Pushes Suppliers To Source Parts Beyond Taiwan And China

0
China and Taiwan are major global producers of essential electronics parts and components. Tesla has requested that its suppliers move the production of components and...