In a resounding affirmation of its commitment to heritage and performance, legendary Italian automaker Ferrari announced on Sunday that it has no plans to relinquish its iconic eight and 12-cylinder combustion engines for a wholly electric or hybrid model in the near future.
The firm intends to continue manufacturing these engines until at least the end of the 2030s, according to its CEO Benedetto Vigna.
In a recent interview with BBC, Vigna asserted that it would be “arrogant” for the company to impose a singular direction on its customers while simultaneously abandoning the brand’s deeply ingrained traditions.
He emphasized the importance of offering clients the power to choose between an internal combustion engine (ICE), hybrid, or an electric car.
“I don’t want to be arrogant and impose a choice on our client,” Vigna stated. “It is the client who must choose if they want an ICE, a hybrid, or an electric car.”
The Prancing Horse brand, as Ferrari is affectionately known, intends to honor its storied past of high-performance vehicles powered by traditional combustion engines.
While the firm recognizes the growing relevance of electric and hybrid vehicles, these will not completely dominate its production line by the end of the decade.
Ferrari’s strategic decision to continue innovating and developing its internal combustion engines is a salute to what it deems an “essential part of the company’s heritage.”
Vigna defended this stance as an indicator of technological evolution rather than a compromise on Ferrari’s environmental commitments.
This customer-centric approach has proved fruitful for the Maranello-based automaker. A recent report from Automotive News Europe revealed that despite producing fewer than 14,000 vehicles in 2022, Ferrari has outpaced Stellantis, the parent company of 14 renowned car brands, including Alfa Romeo, Fiat, Jeep, Peugeot, Ram, and Vauxhall.
In terms of market capitalization, the total value of a company on the stock market, Ferrari currently holds an impressive eighth position. This places the company ahead of major competitors like the Stellantis conglomerate, Ford, Honda, General Motors, and Hyundai.
Ferrari’s insistence on preserving its legacy while carefully navigating the emerging landscapes of electrification is a testament to its dedication to both its customers and its storied history.
While the automotive industry races towards an electric future, Ferrari remains steadfast, fueling its future with the roar of its iconic combustion engines.
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