Ferrari NV confirmed it’s considering an expansion into the utility vehicle business by “reinventing” the segment and plans to boost the range of hybrid sports cars even as the company seeks to maintain an exclusivity status. Details of the new strategy will be unveiled next year.
Enzo Ferrari founded Scuderia Ferrari in 1929. The company initially sponsored drivers and manufactured race cars before moving into production of street-legal vehicles after World War II. The brand has had major success on the racing circuit in Formula One, and Ferraris are widely seen as one of the ultimate status symbols. It is now part of the Fiat Group.