Ferrari made it clear it has no plans to abandon gas engines and to transition entirely to electric or hybrid models in the near future.. FerrariCourtesy Ferrari .The company pledged to continue producing its signature eight- and 12-cylinder gas engines until at least the end of the 2030s..During an interview with the BBC, Ferrari CEO Benedetto Vigna stated it would be “arrogant” to tell customers what they can and cannot purchase while abandoning Ferrari’s heritage..Ferrari is committed to its legacy of producing high-performance cars through “traditional propulsion methods” instead of moving to electric vehicles..While the company aims to introduce more electric cars and hybrids to its lineup by the end of the decade, it has no plans to replace its traditional gas engines completely..Ferrari is committed to developing gas engines, which it calls “an essential part of the company’s heritage.”.During the BBC interview, Vigna pointed out the company's history in advancing internal combustion engine technology..Vigna also said any suggestion the decision would detract from the company's environmental credentials is false..“I don’t want to be arrogant and impose a choice on our client,” said Vigna..“It is the client who must choose if they want an ICE [internal combustion engine], a hybrid or an electric car.”.An Automotive News Europe report showed Ferrari surpassed Stellantis, the parent company of 14 car brands such as Alfa Romeo, Citroen, Fiat, Jeep, Peugeot, Ram, and Vauxhall, in terms of market value, despite producing fewer than 14,000 vehicles in 2022..Ferrari currently holds the eighth position in market capitalization, which refers to the total value of a company on the stock market..The company has overtaken Stellantis, Ford, Honda, General Motors, and Hyundai.
