The Mahindra Group will leverage Pininfarina to enter the U.S. and Chinese markets.
Indian automaker Mahindra & Mahindra acquired Italian automaker Pininfarina in 2015 for $185 million, but kept Pininfarina an independent company with a separate listing in Milan.
Now, Mahindra will turn to Pininfarina to enter the U.S. market with high-end electric vehicles, before working on entering China. “Competing in the U.S. is like the old Frank Sinatra song that if you can make it there, you can make it anywhere,” said Anand Mahindra, chairman of the Mahindra Group. “So when you sell cars in the U.S., it forces you to be the most competitive.”
Mahindra will also use its South Korea-based Ssangyong Motor Co. to enter the U.S. market. Mahindra said the group aims to enhance its investments and presence in the U.S. through its South Korean auto unit. Ssangyong is still planning to enter the U.S. market but that it would take at least three years to complete its decision. For now, Ssangyong wants to expand its presence in China by building a factory in the country.
It’s unclear which existing concept car, if any, Pininfarina will use to enter the U.S. market. Last year, Pininfarina did confirm it will produce its high-performance hydrogen car previewed by the H2 Speed Concept (seen above). The Pininfarina H2 Speed will be a track-only car however and features a powertrain with two electric motors generating at least 503 horsepower to the rear wheels.