Jaguar, BMW, Mercedes and Audi have joined the electric car market but the industry is now preparing itself for the sports car, as Ferrari (NYSE:RACE) and Porsche (OTCMKT:POAHY) the most prominent luxury sports car brands have recently debuted electric models in the premium luxury and premium sports car market.
Ferrari’s plug-in hybrid SF90 Stradale promises to be its most powerful street-legal car ever. The vehicle has a 40-liter turbocharged V8 engine that generates 769 horsepower. It can accelerate to 62 mph in 2.5 secs and can reach 211 mph.
The SF90 in the title is a tribute to Ferrari’s 90 years of business and “Stradale” is the Italian word for “road.” It will cost at least $1-M with deliveries expected in the beginning of Y 2020.
This September, German automaker Porsche will launch its 1st-ever fully electric vehicle (EV), the Taycan.
“Our new electric sports car is athletic and performance-oriented; a car that is capable of longer distances and represents freedom,” said Oliver Blume, the CEO of Porsche AG.
Taycan is Turkish for “lively young horse,” a reference to the horse in Porsche’s logo. The price will be somewhere between Porsche’s Cayenne model at $66,000 and its Panamera model at $85,000.
The company hopes to integrate new innovation in its vehicles, as the Porsche sportscar turned 70 in Y 2018.
The Big Q: Will anyone buy them?
The Big A: Yes,” says Klaus Zellmer, North America President of Porsche.
“Technology transitions are, by their nature, hard to forecast in advance. But with more than 20 years of automotive industry experience, I see clear market indicators that American consumers are about to embrace EVs as their daily drive.”
Tesla (NASDAQ:TSLA) set the standard for the luxury electric car when it released the soundless Tesla Roadster in Y 2008.
Engineers are working on technology to give the the soundless electric sports cars sound, as it is all about sound.
Ferrari’s SF90 is Green and Powerful.
There were approximately 361,307 electric vehicles sold in total in the US in Y 2018, an increase of 81% over the prior year. There are currently only about 1-M electric cars on the road.
There are more than 260-M gasoline and diesel-based cars in the US and over 17-M of the Crude Oil based cars are sold annually.
Ferrari is the Aristocrat of the automotive sector.
The iconic Italian Supercar manufacturer claimed the title according to the latest Brand Finance Global 500 2019 report launched at the World Economic Forum in Davos.
HeffX-LTN overall technical outlook for RACE is Very Bullish, overhead resistance now stands at 165.25, and support at 160.01, all Key indicators are still Very Bullish in here. Ferrari finished at 161.42, +0.56 Friday in NY.