Legendary Italian car maker Ferrari has no intention of phasing out combustion engines and going fully electric or hybrid anytime soon, promising Sunday to keep making the eight and 12-cylinder engines it has made its trademark at least until the end of the 2030s.
The chief of the Italian manufacturer told the BBC in an interview it would be “arrogant” to dictate to customers what they can buy while at the same time walking away from the company’s heritage.
Ferrari instead wants to honor its history of high performance cars using traditional methods of propulsion.
It said electric cars and hybrids would make up an increasing proportion of its range by the end of the decade but would not totally take over manufacturing output.
Ferrari also insisted it would continue to develop internal combustion engines to salute what it called “an essential part of the company’s heritage.”
In the BBC interview, Ferarri boss Benedetto Vigna pointed to this decision as a sign that technology was evolving, and denied doing so would undermine the company’s environmental credentials.
“I don’t want to be arrogant and impose a choice on our client,” he said.
“It is the client who must choose if they want an ICE (internal combustion engine), a hybrid or an electric car.”
Serving its clients and giving them what they want has long been a successful strategy for the company.
According to a report from Automotive News Europe, Ferrari has overtaken Stellantis – the parent company of 14 car companies including Alfa Romeo, Citroen, Fiat, Jeep, Peugeot, Ram, and Vauxhall – despite building fewer than 14,000 vehicles in 2022.
By market capitalisation – the total value of a company on the share market – Ferrari is currently in eighth position ahead of the Stellantis conglomerate, Ford, Honda, General Motors, and Hyundai.
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