Mahindra has entered into a brand licensing agreement with Italian automotive design house Pininfarina that will allow the Indian auto giant to use trademarks owned by the Pininfarina Group including licensing of brand Pininfarina for the company's automotive products. The Indian automaker acquired 76.06 per cent stake of Italian company late last year for over 50 million Euros (around ₹ 370 crore) through a Special Purpose Vehicle (SPV).
At the time of announcing the acquisition, the conglomerate had said that Tech Mahindra and Mahindra & Mahindra (M&M) will own 60 per cent and 40 per cent respectively in Pininfarina. Known for its impeccable designs on cars from Ferrari, Peugeot, Alfa Romeo, Maserati, Lancia, Fiat and many more, Pininfarina has been an icon in the automotive world, but was also in need of financial stability in recent times.
This is where the Indian auto giant stepped up in providing financial backing to the firm and allowing the company to continue with its projects. The Indian automaker's recently launched including the TUV300 and KUV100 are said to have benefited from Pininfarina's inputs. Similarly, Pininfarina will also gain access to Mahindra and Mahindra's extensive base comprising of Mahindra Automotive, Reva and SsangYong brands, among others.
It will now be interesting to see the design inputs that Pininfarina brings on Mahindra vehicles. The latter is not really known for impressive design, but the Italian firm's expertise will help introduce an appreciative styling. The automaker has been on a roll with its subcompact SUVs starting with the TUV300 that was introduced last year, followed by the KUV100 and NuvoSport launched earlier this year.
Mahindra is now gearing up to introduce the E-Verito on June 2 in the country and is the company's second offering in the EV space after the e2o. Based on the regular Verito sedan, the E-Verito is powered by an electric motor and is four-door 5-seater and is expected to carry a competitive price with the FAME subsidies in place.
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