Ferrari N.V. ((RACE) presented its new SF90 Spider model this past week.
What Happened: The Italian luxury carmaker is releasing the convertible version of its SF90 Stradale hybrid, the second vehicle in its electrified model lineup, the company announced.
The retractable hard top model includes an 8-cylinder combustion engine and three electic motors that combine to put out about 1,000 horsepower.
Deliveries are expected to begin in the second quarter of 2021, with pricing starting at $559,000 (473,000 EUR).
Enrico Galliera, chief marketing officer, said, "We consider the SF90 our range supercar, and we don’t see any competitors on the market at the moment.”
The carmaker said it’s getting back on track with a 30% jump in orders in October, compared with the first quarter of the year, Bloomberg has reported.
Why It Matters: Electric and hybrid cars are attracting more and more attention as governments and people all over the globe are going green and introducing eco-friendly initiatives.
The U.K., for instance, is expected to ban the sale of gasoline and diesel cars from 2030.
Ferrari said its cars will not be fully electric until after 2025.
“For the time being we don’t consider electric technology suitable for Ferrari’s needs. It will be for sure in the future, but not now,” Galliera said.
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.