Mahindra has launched a new Europe-based company, Automobili Pininfarina that will venture in high-performance, luxury electric vehicles. The company will be led by Michael Perschke, who has also served Audi India as the managing director in the past.

Mahindra has also announced that Automobili Pininfarina will roll out its first product; a Pininfarina badged electric hypercar, in 2020. The carmaker says that the hypercar will benefit from Mahindra’s experience in Formula E racing and Pininfarina’s expertise in designing cars.

Mahindra had earlier hinted than an expensive electric car is in the works.

The hypercar will be a niche product and won’t be manufactured in high volumes, suggests Mahindra Group’s chairman, Anand Mahindra’s statement, which says, “Italy’s renowned design expertise produces objects of true beauty and unique style. Drawing upon the pedigree and design vocabulary of the Pininfarina aesthetic heritage we will develop a rare collector’s item that only a handful of connoisseurs will ever own.

It will be an innovative and pioneering product 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.”