Plans are in place to launch high-end electric cars under the Pininfarina name.

The new Automobili Pininfarina was launched on Friday in Rome, where Pininfarina parent company Mahindra is competing in this weekend's Formula E Championship round.

Launching a car brand was a dream held by Pininfarina founder Battista Pininfarina (born Battista Farina), and one finally being realized thanks to the financial backing of Mahindra.

And in true Pininfarina style, the cars will be luxurious, highly advanced and offer extreme performance. You can bet they will also be easy on the eyes.

"We are pleased to welcome the new company Automobili Pininfarina, which represents an additional client for Pininfarina SpA, joining the list of the many prestigious car makers for which we will be designing cars in the future,” Pininfarina Chairman Paolo Pininfarina said at the launch. “This project helps me and my family to realize my grandfather's dream of seeing outstanding innovative cars solely branded Pininfarina on the roads."

Pininfarina H2 Speed concept

Pininfarina H2 Speed concept

The first model arrives this year as the production version of the H2 Speed concept that was shown at the 2016 Geneva auto show. The H2 Speed is a track-only electric supercar that swaps a battery for a hydrogen fuel cell stack, and just 12 will be built.

But confirmed Friday, a much more potent model will arrive in 2020 to serve as the flagship of the brand. It will reportedly use technology developed by Rimac as well as Mahindra's Formula E team, and like the H2 Speed only a few examples of the new car will be built. Power is expected to rival the 1,480 horsepower of the Bugatti Chiron. Don't laugh, Rimac's recently revealed C_Two hypercar develops as much as 1,914 hp from its four electric motors.

Other Pininfarina models will be built in higher volumes. They are expected to include SUVs and sedans.

Placed in charge of Automobili Pininfarina is Michael Perschke, who previously headed Audi in India and had stints at Volvo and NEVS.

This wouldn’t be the first time that Pininfarina is venturing into car production. The company has built a number of cars for various automakers, the last being the Volvo C70. It's also dabbled in the world of electric cars. Some readers will recall that Pininfarina helped French firm Bolloré last decade to develop the BlueCar electric hatch used for car sharing.