Mahindra & Mahindra Ltd.
The option weighed to raise funds for the Automobili Pininfarina unit for trying to present a $ 2.2 million electric hypercar into production, people with knowledge of the problem.
Considerations of Indian Carmaker include potential abroad abroad from the EV supercar business, according to the people, who requested not to be identified because the information was personal.
Mergers with empty check companies are one of the scenarios studied for Automobili Pininfarina, said people.
Mahindra can try to appreciate the unit of around $ 500 million in any agreement, said people.
Mahindra is looking for ways to accelerate development, because Automobili Pininfarina has not started the delivery of 1,900 Battista horsepower shown as a prototype in 2019.
Considerations at the initial stage, and the structure of each potential agreement has not been resolved, said people.
A spokesman for Automobili Pininfarina referred to the question to Mahindra.
Representatives for Mahindra did not immediately respond to emails and phone calls outside the usual Indian business hours.
The pursuit of an agreement with the company acquisition special purpose will see Automobili Pininfarina, with offices in Turin and Munich, joining the Field full of EV hopes that have tried to ride a wave of investor enthusiasm for electric vehicles.
Polestar, an electric vehicle maker supported by the Volvo Car Group, immediately joined the Carmaking Big League this week when the four-year-old company said it would go public by joining Spac with a business value of around $ 20 billion.
Unlike many other car beginners, the convincing debut has been rapidly in a hurry, the Polestar has a model in the market and access to the global production network.
Battista Automobili, was first launched in the Geneva Auto Show, using battery and powertrain technology from Croatia Electric-Supercar Maker Rimac Automobili.
This unit initially planned to build 150 cars from 2020.
Mahindra founded an electric hypercar unit to cash the value of the Pininfarina Spa brand, the famous iconic coach builder to design Ferrari NV sports cars.
Mahindra took control of Pininfarina in 2015 with a company plan to make a car with a brand name for the Automobili unit.
The design business will not be part of any transaction, said people.
Battista delivery will now begin at the beginning of 2022, and the Battista car that is ready to be produced running on the road and lanes in North America and Europe, a spokesman for Automobili Pininfarina said.
The company sold out the five Limited Battista Anniversario edition of production launched last year, and was very happy with the momentum of its sales, the spokesman said.