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Mahindra Is Said to Weigh Electric Supercar Unit Funding Options

  • Indian carmaker discusses listing supercar unit via SPAC deal
  • Automobili Pininfarina unveiled $2.2 million prototype in 2019
A Pininfarina Battista luxury hypercar sits on display on the opening day of the 89th Geneva International Motor Show in 2019.
A Pininfarina Battista luxury hypercar sits on display on the opening day of the 89th Geneva International Motor Show in 2019.Photographer: Stefan Wermuth/Bloomberg
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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.