Mahindra considering funding options for EV supercar unit, says report
BENGALURU (Reuters) – Mahindra & Mahindra Ltd is considering options to raise funds for its unit Automobili Pininfarina, as the Indian automaker looks to start production of its $2.2 million electric hypercar, Bloomberg News reported.
The Munich-based luxury electric vehicle unit had in 2019 rolled out a prototype of its 1,900-horsepower Battista, which had a top speed of 350 km/hour and a range up to 500 km in a single charge.
Mahindra’s options include a merger with a blank-check company and a potential overseas listing of the EV supercar business.
It could seek to value the unit at around $500 million in any deal, the report said, citing people with knowledge of the matter.
