The unthinkable is right around the corner: an electric Ferrari
From next year onwards, all new Ferrari’s will come with the option to have a hybrid engine. To many fans of the world’s most iconic sports car brand, this was long held out to be unthinkable. Just two years ago, the brand’s chief, Sergio Marchionne, said that the very concept of an electric Ferrari was “obscene”. How did we get from there to here?
Ferrari’s share price has risen by 16% so far this year
SOURCE: Yahoo Finance
Appetites were wetted at the end of March, when footage of a silent Ferrari running around the company’s track near Maranello hit YouTube. It was quickly confirmed as true. Marchionne says that Ferrari has been “very quietly” testing a gasoline-electric hybrid car that “you could run silently”. This is the first of a set of vehicles that, while not fully electric, will show “the full power of electrification” next year.
Check out the silence on Ferrari’s prototype hybrid car in this amateur footage
Electrification is big news for the brand, luxury car enthusiasts, and the environment. The company has a timeline in mind: next year, the tech becomes available in hybrid sports cars. By 2020, the drivetrain will come as standard on Ferrari’s SUV (which will be the fastest SUV on the market, according to Marchionne). By 2022, Ferrari will offer fully electric cars.
While electrification is a major change of pace for the brand, it’s not the only thing Ferrari fans have got to look forward to. In addition to the planned SUV, analysts expect Ferrari to up its annual production from 9,000 to almost 15,000. Getting this number right is crucial: make too few, you lose out on profit. Make too many, you dent exclusivity.
Ferrari will also be branching out from the sports cars its best known for. Founder Enzo Ferrari oversaw the creation of a series of Grand Touring models in the 1950s and 60s, and Marchionne thinks the company could still learn a lot from its eponymous founder. Speaking at the Geneva International Motor Show in March, he paid homage to them, saying:
“Those are phenomenal cars. In the last 15 years we focused a lot more on the performance of sports cars. We need to rekindle our interest in the other side.”
Dominion holds Ferrari in its Global Trends Luxury Fund.
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