Ferrari (NYSE:RACE), An Electric Supercar is Coming
- All Ferrari’s will have have a hybrid component by Y 2019
Ferrari (NYSE:RACE) the world’s Top preformer in the automotive sector has indicated that is will enter the EV (electric car) space.
Tuesday, CEO Sergio Marchionne said at the Detroit International Auto Show that the iconic Italian automaker plans to build an electric Supercar.
Mr. Marchionne also said that the company plans to launch its 1st “FUV” by early Y 2020 and that the vehicle will be the fastest sport utility vehical on the market.
“If there is an electric Supercar to be built then Ferrari will be the 1st,” Mr. Marchionne said.
Ferrari pushing into electric cars is not a complete surprise.
Mr. Marchionne said in Y 2016 that all Ferraris would have some hybrid technology by Y 2019 and he said during an earnings call last May that the company was moving towards electrification.
“I think that there is now a view inside the house that electrification is a core skill that needs to be mastered and needs to be part of the offering of the combustion engine world,” Mr. Marchionne said.
Ferrari is targeting annual sales exceeding a self-imposed 10,000-car limit that until now has enabled it to operate under less-stringent fuel-economy rules.
The goals include 2X’ing operating profit to about $2.35-B by Y 2022.
According to my analysis of the sector data, global carmakers have invested some $90-B in electric vehicles.
Last November, Tesla showed a new Roadster, which hopes to debut in Y 2020. And Porsche is planning on rolling out its all-electric Mission E in Y 2019.
Should Ferrari roll out an electric Supercar expect it to be a few cuts above Aston Martin, Porsche and fledgling EV builder Tesla (NASDAQ:TSLA)
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