Italian carmaker Ferrari is likely to roll out 15 new models, including hybrids, and a sports utility vehicle (SUV) called “Purosangue” (Thoroughbred).  According to analysts, “Purosangue” could lead to substantial growth in sales. The carmaker expects the car will help lure the superrich in China. Ferrari CEO Louis Camilleri, however, said that vehicle would not dilute Ferrari’s exclusive status. Camilleri and his team plans to shift to making a utility vehicle and hybrid cars and boost margins to more than 38 percent without sacrificing exclusivity. Ferrari is known for its racing pedigree and roaring combustion engines.
 
As part of a new segment dubbed “Icona”, inspired by past Ferraris, the carmaker also unveiled a pair of open-topped, limited edition sportscars. However, the new cars boast the latest technologies, according to a Mint report. Ferrari is reportedly also planning to expand its GT vehicles that focus more on style and the driving experience.
 
Though Ferrari ruled out a self-driving model, it reportedly said its utility vehicle would come two years later than initial forecast. According to the Mint report, the company will spend €3.6 billion by 2022 to develop new vehicles and shift towards hybrids. The carmaker, however, aims to remain compliant with gradually tougher emissions regulations.

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Hybrid vehicles would make up around 60 percent of its product mix by the end of the plan, the company reportedly said, adding that a smaller six-cylinder engine would be added to its lineup of internal combustion engines.