Ferrari Promises To Continue Production Of Combustion Engines

(DailyDig.com) – The illustrious Italian automobile manufacturer Ferrari has absolutely no plans to ever completely replace internal combustion engines (ICE) with hybrid or electric powertrains. On May 14, they declared a commitment to continue producing the eight- and twelve-cylinder motors, at least through the end of the 2030s, that have been the company’s signature feature.

Ferrari predicted that by the close of the decade, hybrids and electric vehicles would account for an increasing share of its spectrum, but they would not completely replace manufacturing production. In addition, they declared that they would maintain their commitment to the research and development of ICEs, which they referred to as an integral component of the history of the company.

In an interview with the BBC, the head of the Italian auto manufacturer said that it would be presumptuous to prescribe to consumers what they may purchase while simultaneously stepping away from the firm’s past. Instead, Ferrari is committed to honoring its heritage of producing high-performance automobiles powered by conventional sources of propulsion.

In an interview with the BBC, Ferarri CEO Benedetto Vigna defended the move, saying it was evidence of technological progress and not a threat to the company’s green credentials. He declared that he did not like to seem haughty by forcing their customers to make a decision based on giving them no options. The customer is responsible for deciding whether or not they want an electric, hybrid, or conventional ICE-powered vehicle.

The Italian firm has been successful for many years because of its dedication to satisfying customer needs. Automotive News Europe claims that Ferrari has surpassed Stellantis, which is the parent company of fourteen automakers, including Jeep, Citroen, Vauxhall, Peugeot, Alfa Romeo, Ram, and Fiat, despite producing less than 14,000 automobiles in 2022.

As of right now, according to market capitalization, which is the overall worth of a firm as measured by the market for shares, Ferrari is in eighth place. This places it ahead of Ford, Hyundai, the Stellantis Group, General Motors, and Honda.