Ferrari to unveil first hybrid supercar FXX K at Yas Marina Circuit

The Italian car maker has invited a select group of customers to test drive the1,050 horsepower prototype at the Finali Mondiali Ferrari, an annual event which is taking place outside Europe for the first time.
The Ferrari FXX K will cost about €2.5 million each. Courtesy Ferrari
The Ferrari FXX K will cost about €2.5 million each. Courtesy Ferrari

Ferrari will unveil its first hybrid supercar – the FXX K – at the Yas Marina circuit in Abu Dhabi this weekend.

The Italian car maker has invited a select group of customers to test drive the1,050 horsepower prototype at the Finali Mondiali Ferrari, an annual event which is taking place outside Europe for the first time.

The event began yesterday and runs through Saturday, when the unveiling is scheduled to take place.

The car maker will also display more than 200 exotic and limited-series models, including 74 challenge cars and 17 Formula One single-seaters.

A source said the car maker plans to make an announcement at the weekend. However, he declined to provide details.

“The laboratory car is based on Maranello’s first hybrid model and will grace the world’s tracks from next year onwards,” Ferrari said yesterday.

The FXX K is capable of pumping out 1,050 horsepower from a conventional V12 engine, which delivers 860 horsepower, and 190 horsepower from an electric motor.

The FXX K is based on the €1 million (Dh4.5m) LaFerrari hybrid. The car maker will build just a few dozen of the model, which may cost about €2.5m each, Bloomberg News reported.

The FXX K will be reserved for a limited number of customers who will use the car only on tracks in private sessions or at events organised by the manufacturer, the report added.

The programme allows Ferrari to test some extreme features that may be used in vehicles eventually built commercially without having to meet road certification or racing regulations. The FXX K will never be used in competition.

Ferrari, which has restricted production to about 7,000 cars a year to preserve the brand’s exclusivity, plans to boost profit with more expensive and limited-release models and additional services as the chairman Sergio Marchionne separates the business from Fiat Chrysler.

The FXX K is the first Ferrari model unveiled since Mr Marchionne, who runs Fiat Chrysler, took the post at the supercar producer in October following the departure of Luca Cordero di Montezemolo as the chairman.

The London-based parent company plans to spin off Ferrari next year to help raise about US$5 billion to counter mounting debt, giving investors a chance to buy into one of the automotive industry’s most storied names.

Ties between Ferrari and Abu Dhabi go back some way.

Mubadala Development, the Abu Dhabi government-owned investment company bought a 5 per cent stake in the luxury car maker from Fiat in 2005. It bought the stake for €114m and sold it in 2010 for €122m, realising gains of €8m.

* with Bloomberg News

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Published: December 3, 2014 04:00 AM

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