Money News

Ferrari lifts the lid on convertible version of SF90 Stradale hybrid

MILAN (Reuters) - Ferrari unveiled the SF90 Spider on Thursday, a convertible version of its SF90 Stradale hybrid and part of the Italian luxury carmaker’s drive to make 60% of sales from hybrid technology by 2022.

FILE PHOTO: The Ferrari logo is pictured as Ferrari Roma is unveiled during its first world presentation in Rome, Italy, November 14, 2019. REUTERS/Guglielmo Mangiapane/File Photo

The new car will feature the same specifications as the 4WD SF90 Stradale released last year, with a 780 horse power 8-cylinder combustion engine integrated with two front-mounted electric motors adding an extra 220 horse power, plus a retractable hard top.

As well as a top speed of 340 km per hour, the hybrid SF90 can deliver 25 kilometres of silent electric-only power, allowing drivers to leave home quietly and pass through city centres without producing emissions.

So far, the COVID-19 pandemic has not delayed Ferrari’s ambitious plans to roll out new models, with the SF90 Spider coming two months after the Portofino M, a makeover of Ferrari’s top selling grand tourer (GT).

It keeps a pledge to unveil two new cars this year, after a record five in 2019, including the 430,000 euro ($508,000) SF90 Stradale, Ferrari’s first hybrid in series-production.

The SF90 Spider is the eighth new model out of the 15 Ferrari promised in its 2018-2022 plan.

The carmaker, controlled by Exor, the holding company of Italy’s Agnelli family, has pledged that 60% of vehicle sales will be hybrid by 2022.

A fully-electric Ferrari car, however, is not expected until after 2025, as the battery technology requires more development and the group needs to prepare customers more used to roaring engines than a quiet drive.

In an earnings call on Nov. 3, Camilleri said he didn’t see Ferrari ever being a 100% electric carmaker. “And certainly not in my lifetime will it reach even 50%,” he added.

($1 = 0.8465 euros)

Reporting by Giulio Piovaccari; Editing by Mark Potter