Revision as of 12:08, 6 March 2019

Automobili Pininfarina

2019: ‘fastest’ e-super car unveiled

March 6, 2019: The Times of India

The Battista, as in 2019.
From: March 6, 2019: The Times of India

Luxury electric vehicles brand Automobili Pininfarina, a part of the Mahindra Group, on Tuesday unveiled its luxury electric vehicle Battista here, which is touted to be faster than a current Formula 1 race car in its 0-100 km/h sub-two second sprint.

When it arrives in 2020, the Battista will be the most powerful car ever designed and built in Italy. It has the potential to accelerate to 62 mph in less than two seconds, faster than a Formula 1 car, and break the 250mph top speed barrier — all with a potential zero emissions range of over 300 miles, the company said. It will deliver a level of performance that is “unachievable today in any road-legal sports car featuring internal combustion engine technology”, it claimed.

“This is the most authentic and exciting automotive story imaginable. The Battista is the hypercar of the future, inspired by a legendary past,” Automobili Pininfarina CEO Michael Perschke told reporters.

Electrification unlocks the door to a new level of performance and a zero-emissions future, whilst a passion and respect for automotive history will define how this landmark car looks and feels, he added. “We aim for the Battista to be a future classic and automotive icon, writing its own page in automotive history books,” Perschke said.

No more than 150 Battistas will be hand-crafted in Italy and allocated equally between the regions of North America, Europe and Middle East/Asia, Pininfarina said. Customer service will be delivered through some of the world’s best luxury car retail specialists, from Los Angeles to London to Tokyo, it added.

The Turin-based company has named the model after Battista ‘Pinin’ Farina, the founder of the Carrozzeria Pininfarina coach building company that he started in 1930. The all-electric hypercar is designed and hand-built in very limited numbers at Pininfarina SpA.

Based out of Europe, Automobili Pininfarina combines its automotive design prowess with Mahindra’s growing electric vehicle (EV) expertise, gained from participation in the Formula E electric racing car championship.

The Mahindra Group had acquired Pininfarina in late 2015 for an overall outgo of over 50 million euros after months of negotiations.

Overseas ventures

2017: buys 2nd Turkish tractor plant, foundry

Nandini Sengupta, $117M DEAL - M&M buys 2nd Turkish tractor plant, foundry, September 21, 2017: The Times of India

 Tractor major Mahindra & Mahindra has acquired its second Turkish tractor asset. In a deal size worth around $117 million, M&M acquired 100% in Erkunt Traktor as well as 80-100% stake in subsidiary foundry Erkunt Sanayi.Erkunt is the fourth largest tractor company in Turkey and has a revenue of $88 million, while the foundry has a revenue of $51 million. This is the second Turkish acquisition for M&M after Hisarlar. “We have agreed to an enter prise valuation of $76 million for the tractor company and $51 million for the foundry . This is an outright cash purchase from the founder Armagan family and this acquisition is primarily for the Turkey market. Its pro duct range also fits in because our tractor range in India is up to 65HP while Erkunt's range is between 55-110HP ,“ said M&M MD Pawan Goenka.

As for the foundry , it is 35% owned by the tractor company and feeds its requirements. “It is a good state-of-the-art plant with an export focus and 80% of its revenue comes from exports,“ said Goenka.

The latest acquisition is part of the company's larger game plan in the tractor and farm implements business with an eye on becoming one of the top-3 global players in the next eight-10 years. “To grow to that scale, we need to look outside India for additional tractor market share and get technology andor market foothold in key global geographies,“ said Goenka. Turkey is the world's fourth biggest tractor market.

2017: MRR Development (real estate, Manhattan)

Nandini Sengupta, Mahindra sets up Manhattan realty co, November 3, 2017: The Times of India

Anand Mahindra, chairman of the $19-billion Mahindra Group, is investing in US real estate in his personal capacity . He is partnering with Rotem Rosen, a New York real estate owner and developer and Jerry Rotonda, who has been CFO of Deutsche Bank, WM Americas. The trio are setting up a real estate firm called MRR Development which will focus on real estate projects in Manhattan.

This investment has nothing to do with Mahindra Group. When contacted, the group shared a statement confirming the development: “MRR Development, headquartered in Manhattan, is a premier full service real estate powerhouse, founded personally by Anand Mahindra through his family office, and will focus on the identification, acquisition, development, conversion & sale of real estate speci fically in Manhattan, reflecting the fundamental analysis of long-term drivers of capital appreciation.“

It added, “MRR will systematically target development projects that deliver value and quality to buyers. The three partners have delivered a “strong risk-adjusted track record of returns in their re spective careers by relying on their investment discipline and sourcing capabilities.“

Forbes magazine values Anand Mahindra's net worth at $1.55 billion. He has earlier made similar individual investments into Epic Channel, partnering with Mukesh Ambani. Three years later, Ambani reportedly sold his stake in Epic last November.

Mahindra has also made several investments in startups including in companies like SheThePeople, LocalCircles India and more recently Thinkerbell Labs and the Naandi Education Support & Training (NEST).

2018: M&M buys 10% of Canada’s Resson Aerospace

Nandini Sengupta, M&M picks up 10% stake in Canadian agri tech firm, May 2, 2018: The Times of India

As part of its Farming 3.0 vision of expanding global footprint and introducing cutting edge technology into the farm equipment sector, Mahindra & Mahindra is investing just over $5 million (or Canadian $6.63 million) for a 10% stake in Canadian technology company Resson Aerospace Corp.

The investment is an all-cash deal that will allow M&M to use the Canadian company’s technology — a combination of computer vision, machine learning and big data analytics to offer insights into crop health – both in key global markets as well as in India. M&M will acquire around 800,402 Class C preferred shares of Resson Aerospace and the deal should be sealed by May 10. 2018.

M&M has been aggressively investing in a series of global companies with an eye to either gain critical products or marketshare or technology. The Resson Aerospace deal is a technology driven investment.

“The deal is in alignment with everything we’ve been saying about advanced technology farming or Farming 3.0 and the Resson Aerospace technology will be useful for us globally,’’ said a senior company source. “We have ambitions not restricted to India.’’ M&M’s Farming 3.0 vision is about the use of digital technology to change the way farming is done. The company has showcased technologies like driverless tractors as part of this larger vision.

In the past couple of years, M&M has invested in a number of global companies. In early 2017, it acquired 75% stake in Turkey-based farm equipment manufacturer Hisarlar Makina Sanayi ve Ticaret Anonim S irketi and followed it up with the acquisition of Turkish tractor maker Erkunt Traktor Sanayii AS later that year. M&M plans to double its global revenue from the farm equipment sector to $5 billion by 2019, targetting that 50% of its total farm equipment sector revenue comes from global markets.

Technology development

2018: Ford’s cheapest electric vehicle, Aspire

Pankaj Doval, M&M helps Ford make cheapest electric vehicle, February 27, 2018: The Times of India

Mahindra & Mahindra (M&M) is set to give Ford its cheapest electric car globally, while the two companies have also started work on a new platform to develop an SUV that would be sold under their individual branding.

Top sources told TOI that M&M has helped Ford develop an electric version of its Aspire entry sedan, and this can hit the market by next year. “Ford has gained tremendously from Mahindra’s strength in electric vehicles technology. The Aspire will be the first to hit the roads and, unlike its existing petrol/diesel version, which is under 4 metres in length, the electric variant will be a longer one,” one source said.

The two companies had in September last year signed a memorandum of understanding (MoU) — initially for a period of three years — “to leverage their mutual strengths during a period of unprecedented transformation in the global automotive industry”.

The MoU was to explore joint work on electric vehicles and global distribution as teams from the companies have been working on striking synergies and areas for mutual benefit. Mahindra’s help will now enable Ford to get an “affordable electric vehicle” in India “substantially quicker” and ahead of launch by even market leader Maruti Suzuki, which has announced a 2020 entry into electric vehicles.

“The vehicle will be right in the heart of the market. Apart from mainline customers, the vehicle will also help Ford participate in lucrative government orders, with a big thrust on cleaner vehicles in purchases by both central and state governments.”

A detailed questionnaire sent to Mahindra on the matter remained unanswered, while Ford refused to answer any direct queries. “This strategic alliance between Ford and Mahindra aims to explore how the two companies can work together. It is too early to discuss details and comment on speculations at this stage,” a spokesperson for Ford said.

The two companies have also started work on an allnew SUV. “This is being developed jointly, and is an ambitious and bold step. The joint SUV project is at a very advanced stage and while there will be a joint platform, the design will be individual for the both the companies in line with their brand philosophies.”