Ferrari's S$1.5m eco sports car is here

Singapore

FERRARI'S latest and possibly its greatest car is in Singapore. The Italian brand unveiled the SF90 Stradale last night at a private event, ostensibly to celebrate its 10th anniversary with Ital Auto here but also to give potential buyers a sneak preview of the new model.

Named after the Formula One racing car that will take to the Marina Bay Circuit at this weekend's Singapore Grand Prix, the SF90 Stradale offers a taste of what the pros experience on the track.

It combines the most powerful V8 engine in Ferrari's history with three electric motors to put 1,000 horsepower at the driver's disposal. No road-going Ferrari has had this much punch, and with so much raw power on hand the SF90 Stradale accelerates to 100km/h in a scintillating 2.5 seconds, and reaches 200km/h in only another 4.2 seconds.

At the same time, the SF90 Stradale is the first of a new breed of Ferrari. With plug-in hybrid technology it can travel more than 20km without burning petrol, cruising the streets as a silent electric car.

No official pricing is out, but as Ferrari's new flagship the hybrid sports car should cost at least S$1.5 million without a certificate of entitlement and before optional extras are priced in. That hasn't stopped a queue from building, however. Deliveries only commence in the second half of next year, and ordering one today will mean having to wait until 2021 to collect the keys.

The SF90 Stradale is one of five new Ferraris this year, with a further 13 new models set to hit the road by the end of 2022. The majority of them will be petrol-electric hybrids, as Ferrari aims to boost sales by widening its product portfolio while staying relevant in eco-conscious times.

So far, the strategy seems to be working. NYSE-listed Ferrari's shares are up more than 56 per cent year-to-date, while those of rival Aston Martin are down by half on the LSE. Whatever happens at the Singapore GP, Ferrari is racing ahead in the stock market.