"The Daemon lied with every breath. It could not help itself but to deceive and dismay, to riddle and ruin. The more we conversed, the closer I drew to one singularly ineluctable fact: I would gain no wisdom here."
Evil Cole stomps, immortality and black holes and all. Doubt Pikachu's getting the hell away from the gravity manipulation.
Good Cole, I would say its a toss up. His ice powers and melee attacks alongside precision will help. He can absorb Pikachu's lightning but not Pikachu's other attacks meaning he has to dodge.
Don't know if Pikachu can drain lightning but if he can then its probably going to end up as a draw. Unless restraining counts. Maybe Cole can get a lucky ionic freeze or vortex
In the games, the Pikachu is either level 50, 81, or 88. Its ability is the standard Static, which paralyzes opponents on contact. It's holding a Light Ball (doubles Attack and Special Attack), and knows or has known the following moves:
Charm
Quick Attack
Thunderbolt
Thunder
Volt Tackle
Iron Tail
Brick Break
Fake Out