Ferrari is preparing 15 new cars, including hybrid vehicles, sport utility vehicles (SUVs), and special edition models to increase mid-term profits. Reported by Reuters on Tuesday (9/18) local time, Ferrari is eyeing a profit of 1.8 to two billion euros in 2022.
"This is an ambitious plan, but can be done based on a concrete and detailed framework," said Ferrari's chief executive, Louis Camilleri, in Maranello.
Camilleri and his team said the big plan was carried out by converting racing engines to conventional combustion into hybrid vehicles. According to him, the use of hybrid engines will increase the company's profit margins by more than 38 percent without sacrificing the exclusivity of the Ferrari brand.
Camilleri made sure that most of the cars made by Ferrari would use hybrid-electric engines in 2022. The aerodynamic sports car company would also launch the first SUV named Purosangue.
"By 2022, nearly 60 percent of the models we produce will be built using hybrid drives," said Louis Camilleri.
Ferrari must transition to hybrid vehicles following emission-friendly regulations that are being put into effect in a number of countries in the world. Camilleri admitted, initially did not like the idea of releasing an SUV model.
"It doesn't match our brand and everything it represents, but redefines hope," he said.