Ferrari the sports car maker based in Italy said that it would launch as many as 15 new models over the next four years, as it begins a new strategy of five years under its new CEO.
The automaker is also intending to launch a SUV for the first time that will be called Purosangue and will arrive prior to the end of its five year program.
CEO Louis Camilleri announced that its plan is ambitious but it’s do-able. Camilleri took over the top spot at Ferrari two months ago following the death of former chief executive Sergio Marchionne.
Ferrari wants adjusted core earnings to be between €1.8 billion and €2 billion before the end of 2022.
Its goal is develop new vehicles as well as move towards its hybrid gas-electric models that will comprise 60% of its overall range when its five-year plan concludes.
CMO Enrico Galliera has said that the new Ferrari models would have a substantial increase in their average price.
Ferrari is looking to capitalize on its success in Formula 1 with its new limited edition of a racing-style open-top supercar.
The Monza will be available as a single-seater or two-seater as part of its new Icona lineup. The carmaker is going to build less than 500 of its two models and all have been purchased ahead of time.
The Monza will be the successor to its Barchetta a racing car the company made during the 1940s and 50s.
It will include a V-12 810-horsepower engine and have a carbon-fiber lightweight body. The car will take only three seconds to go from 0 to 60mph.
The Monza appeared first to customers and investors alike on Monday. It will be displayed to the public during the Auto Show in Paris in October where Ferrari will reveal pricing.
Experts in the auto industry say that supercars of that type are typically priced at over $1 million.