Ferrari’s Second Plug-In Model Combines Smaller Engine With Battery
(Bloomberg) -- Ferrari NV unveiled its second plug-in hybrid, the 819-horsepower 296 GTB, as the Italian supercar maker electrifies more of its lineup to keep pace with tightening emissions regulations.
The car draws its name from the displacement of its six-cylinder engine, the first that Ferrari has mated with a high-voltage battery capable of powering the vehicle on its own for 25 kilometers (16 miles). Although it’s a shade slower than the company’s first plug-in hybrid, the SF90 Stradale, it will still reach 100 kilometers per hour (62 mph) in under 3 seconds.
Deliveries will begin in the first quarter of next year, with pricing starting at 269,000 euros ($321,500) in Italy.
The new V6 is highly important to the Maranello-based company. Carmakers are under pressure both to go electric and use smaller, more efficient powertrains in cars still reliant on combustion. Ferrari said the engine earned the nickname “piccolo V12” -- little V12 -- while in development.
Charting a course for Ferrari in the waning days of the internal combustion engine will be among the biggest priorities for Benedetto Vigna, who starts as chief executive officer on Sept. 1. The STMicroelectronics NV executive led the chipmaker’s division that supplies key sensors used in Apple Inc.’s iPhone and automakers’ navigation systems.
“Ferrari’s rare business model where demand exceeds supply continues to be supported by the success of new model launches and waiting lists that continue to grow,” Susy Tibaldi, an UBS analyst who rates the carmaker a buy, wrote in a report Wednesday. She sees hybrids being “more of an earnings driver” in the medium term than EVs, which may not be a substantial share of Ferrari sales until the end of the decade.
Ferrari shares have declined about 11% this year in Milan trading, giving the company a market value of about 31 billion euros. The stock was the top performer in the Stoxx 600 Automobiles & Parts index each of the last three years.
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