Mahindra is urgently looking for an investor to build Pininfarina electric cars

Mahindra is urgently looking for an investor to build Pininfarina electric cars

August 10, 2020 0 By autotimesnews

The company is experiencing financial difficulties due to the pandemic

Indian Mahindra has announced an urgent search for an investor. The company, affected by the coronavirus, required third-party funds to fulfill its plan to produce several electric cars at once during the year. We are talking, among other things, about the first electric vehicle of the subsidiary Automobili Pininfarina – Battista, the debut of which had to be postponed to

According to the head of the company Pavan Kumar Goenk, now is the best time to find a partner for the Mahindra Electric division, which will help increase its chances in the electric car segment. Goenka noted that the coronavirus did not cause significant damage to the business, however, according to Bloomberg, the company’s profits in the second quarter of 2020 fell by 97 percent.

“We are open to suggestions. We are currently negotiating with several partners who are ready to invest in Mahindra Electric, ”Goenka said during an online conference.

Today, Mahindra’s electric lineup includes five models, including the green version of the eVerito sedan, which is popular in Indian taxi fleets. In February, the brand introduced the eXUV300 electric crossover with a declared range of more than 370 kilometers. The future of the model, which is based on the SsangYong E100 electric car, was questionable: in April, Mahindra deprived the unprofitable South Korean brand of the promised funding.

It is also unknown whether the “green” hypercar Battista from Italy’s Pininfarina will see the light of the day. The electric car presented in 2019 is equipped with four motors with a total capacity of more than 1900 horsepower and 2300 Nm of torque. Acceleration from zero to first 100 km/h takes Battista 1.9 seconds, and the maximum speed is over 350 kilometers per hour. The power reserve without recharging is about 500 kilometers according to the WLTP cycle.