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PHOTO CAPTION: LaFerrari hybrid goes for $1.34 million.

Ferrari Plans to Build More LaFerrari Hybrids

The first 499 units of the 963-horsepower, $1.34 million hybrid have already sold out.

Published: 23-Aug-2013

Ferrari SpA (F) plans to build more hybrid vehicles following the success of the 1 million-euro ($1.34 million) LaFerrari as the manufacturer works to attract environmentally conscious wealthy buyers.

"I don't believe in the electric cars, but I strongly believe in hybrids," Chairman Luca Cordero di Montezemolo said in a Bloomberg Television interview with Sara Eisen at the manufacturer's headquarters in Maranello, Italy.

Ferrari, the most profitable unit at Turin, Italy-based Fiat SpA, unveiled the LaFerrari sports car at the Geneva Motor Show in March. The 963-horsepower hybrid, which is already sold out, is part of Montezemolo's strategy of boosting earnings with customized versions of its vehicles while restricting their availability to enhance exclusivity.

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