Italian design house Pininfarina is launching a new standalone car company. Called Automobili Pininfarina, the brand will specialize in producing high-end luxury electric cars, starting with an all-electric hypercar. Codenamed the PF0, Automobili Pininfarina has now confirmed its Bugatti Chiron rival will launch in late 2020. A few teaser images have already been released previewing the PF0, but potential buyers will be able to get a closer look at Pininfarina's electric hypercar at next month's Monterey Car Week.

Private viewings will be held giving select people an exclusive look at what is being described as an "ultra-low volume ultra-luxury electric hypercar." The company confirmed it will cost between $2 million and $2.5 million, while production will reportedly be limited to less than 100 examples. Specifications haven't been officially confirmed, but reports suggest the PF0 will be powered by four electric motors providing a combined output of 2,000 hp. Considering the hypercar is expected to weigh less than 4,409 pounds, its performance should rival some of the fastest hypercars in the world.

0-62 mph is rumored to take less than two seconds, while 0-186 mph will allegedly take less than 12 seconds before the PF0 tops out at 250 mph. This insane performance won't sacrifice the range either, as the PF0 is expected to offer a pure electric range of 310 miles on a single charge. After the PF0, the automaker will roll out a range of low-volume all-electric cars, including luxury SUVs that will be sold and serviced through a network of experienced luxury car retailers. By the sounds of it, Pininfarina is positioning its new car company as a direct competitor to Aston Martin's Lagonda, which will launch in 2021 with an all-electric luxury SUV.

Pininfarina has also announced its board of directors, which include some big names in the auto industry. Former Audi executive Michael Perschke will serve as CEO, while former Bugatti executive Marcus Korbach has been appointed as Sales Director. Current Pininfarina designer Luca Borgogno will be the Design Director and former Ferrari and Maserati engineer Paolo Dellacha has been enlisted as Product and Platform Director.