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.
The Indian carmaker’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.
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.
