Latest news with #Italy-based
Bloomberg
2 days ago
- Automotive
- Bloomberg
Italy's Brembo to Provide Brakes for US Bike Brand Specialized
By Brembo NV will supply a braking system for US bicycle brand Specialized as part of a partnership the two companies are setting up, people familiar with the matter said. Bergamo, northern Italy-based Brembo already produces braking systems for Formula 1 and MotoGP cars, as well as for supercars including Ferrari NV and Porsche AG vehicles. With the latest move, the Italian company's brake business is entering the mountain bike competition segment, said the people who asked not to be named discussing private information.
Time of India
3 days ago
- Automotive
- Time of India
Ferrari delays second EV model to at least 2028 because of weak demand
Ferrari has delayed plans for its second fully-electric model that was due out in 2026 to at least 2028, because of a lack of demand for high-performance luxury EVs, two sources close to the matter told Reuters. Known for its roaring petrol engines, Ferrari has sold hybrid models since 2019 and will begin unveiling its first EV in October this year in a three-stage process culminating in a world premiere in the spring of next year. First deliveries to customers are expected in October 2026. Aside from the lack of a throaty roar that comes with an electric sports car - the top selling point for many wealthy buyers - automakers have struggled to overcome the fact that EV batteries are far too heavy and simply lack the sustained power of a fossil-fuel engine. As part of Ferrari's undisclosed internal plans a second EV model was planned for around the end of 2026. But now it is not expected before 2028, one of the sources said, who added that real, sustainable demand is non-existent for an electric sports car. The source said low market interest would also give Ferrari time to further develop in-house technology for its second electric vehicle, although soft demand remained the main reason for the delay. Ferrari declined to comment. Both sources declined to be named due to the sensitivity of the matter. Ferrari has announced long-term plans to sell EVs and Reuters previously reported Ferrari has a second EV model under development, but the carmaker has not publicly disclosed any plans beyond its first EV. Other sports car makers have already postponed or scaled back their electric ambitions because of a lack of consumer interest. Ferrari's Italian rival Lamborghini, a unit of Volkswagen , said in December it will launch its first electric model in 2029 instead of 2028 and Germany's Porsche cut back its plans for EVs amid soft sales of its electric Macan SUV and Taycan models. Earlier this year Maserati, the luxury brand of Stellantis , cancelled plans for an electric version of its MC20 sports car. The plan for a second Ferrari EV has been delayed twice by the Maranello, Italy-based company. Initially there was a one-year postponement, but now the model will launch in 2028 at the earliest, the second source said, adding that demand for high-performance is currently "zero". The source said that internally, Ferrari's second electric car is seen as the real game changer for its EV strategy, while the first one is more of a low-volume, symbolic milestone model that will meet its promise to launch its first EV in 2026. Ferrari's first EV, which was co-designed by former Apple Chief Design Officer Jony Ive, will cost over $500,000, Reuters reported last year. One of the sources described it as an atypical model for Ferrari, saying it would be larger than normal, but it would not be an SUV. The source said the second EV model will be more in line with the company's strategy of delivering around 5,000 to 6,000 units over a five-year lifespan for a typical Ferrari model, which is currently unsustainable because of a lack of customer interest. Ferrari will present its new long-term business plan to investors on Oct. 9.
CNBC
3 days ago
- Automotive
- CNBC
Ferrari delays second EV model to at least 2028 because of weak demand: Reuters sources
Ferrari has delayed plans for its second fully-electric model that was due out in 2026 to at least 2028, because of a lack of demand for high-performance luxury EVs, two sources close to the matter told Reuters. Known for its roaring petrol engines, Ferrari has sold hybrid models since 2019 and will begin unveiling its first EV in October this year in a three-stage process culminating in a world premiere in the spring of next year. First deliveries to customers are expected in October 2026. Aside from the lack of a throaty roar that comes with an electric sports car — the top selling point for many wealthy buyers — automakers have struggled to overcome the fact that EV batteries are far too heavy and simply lack the sustained power of a fossil-fuel engine. As part of Ferrari's undisclosed internal plans a second EV model was planned for around the end of 2026. But now it is not expected before 2028, one of the sources said, who added that real, sustainable demand is non-existent for an electric sports car. The source said low market interest would also give Ferrari time to further develop in-house technology for its second electric vehicle, although soft demand remained the main reason for the delay. Ferrari declined to comment. Both sources declined to be named due to the sensitivity of the matter. Ferrari has announced long-term plans to sell EVs and Reuters previously reported Ferrari has a second EV model under development, but the carmaker has not publicly disclosed any plans beyond its first EV. Other sports car makers have already postponed or scaled back their electric ambitions because of a lack of consumer interest. Ferrari's Italian rival Lamborghini, a unit of Volkswagen, said in December it will launch its first electric model in 2029 instead of 2028 and Germany's Porsche cut back its plans for EVs amid soft sales of its electric Macan SUV and Taycan models. Earlier this year Maserati, the luxury brand of Stellantis, canceled plans for an electric version of its MC20 sports car. The plan for a second Ferrari EV has been delayed twice by the Maranello, Italy-based company. Initially there was a one-year postponement, but now the model will launch in 2028 at the earliest, the second source said, adding that demand for high-performance is currently "zero." The source said that internally, Ferrari's second electric car is seen as the real game changer for its EV strategy, while the first one is more of a low-volume, symbolic milestone model that will meet its promise to launch its first EV in 2026. Ferrari's first EV, which was co-designed by former Apple Chief Design Officer Jony Ive, will cost over $500,000, Reuters reported last year. One of the sources described it as an atypical model for Ferrari, saying it would be larger than normal, but it would not be an SUV. The source said the second EV model will be more in line with the company's strategy of delivering around 5,000 to 6,000 units over a five-year lifespan for a typical Ferrari model, which is currently unsustainable because of a lack of customer interest. Ferrari will present its new long-term business plan to investors on Oct. 9.
Yahoo
3 days ago
- Automotive
- Yahoo
Exclusive-Ferrari delays second EV model to at least 2028 because of weak demand, sources say
By Giulio Piovaccari MILAN (Reuters) -Ferrari has delayed plans for its second fully-electric model that was due out in 2026 to at least 2028, because of a lack of demand for high-performance luxury EVs, two sources close to the matter told Reuters. Known for its roaring petrol engines, Ferrari has sold hybrid models since 2019 and will begin unveiling its first EV in October this year in a three-stage process culminating in a world premiere in the spring of next year. First deliveries to customers are expected in October 2026. Aside from the lack of a throaty roar that comes with an electric sports car - the top selling point for many wealthy buyers - automakers have struggled to overcome the fact that EV batteries are far too heavy and simply lack the sustained power of a fossil-fuel engine. As part of Ferrari's undisclosed internal plans a second EV model was planned for around the end of 2026. But now it is not expected before 2028, one of the sources said, who added that real, sustainable demand is non-existent for an electric sports car. The source said low market interest would also give Ferrari time to further develop in-house technology for its second electric vehicle, although soft demand remained the main reason for the delay. Ferrari declined to comment. Both sources declined to be named due to the sensitivity of the matter. Ferrari has announced long-term plans to sell EVs and Reuters previously reported Ferrari has a second EV model under development, but the carmaker has not publicly disclosed any plans beyond its first EV. Other sports car makers have already postponed or scaled back their electric ambitions because of a lack of consumer interest. Ferrari's Italian rival Lamborghini, a unit of Volkswagen, said in December it will launch its first electric model in 2029 instead of 2028 and Germany's Porsche cut back its plans for EVs amid soft sales of its electric Macan SUV and Taycan models. Earlier this year Maserati, the luxury brand of Stellantis, cancelled plans for an electric version of its MC20 sports car. The plan for a second Ferrari EV has been delayed twice by the Maranello, Italy-based company. Initially there was a one-year postponement, but now the model will launch in 2028 at the earliest, the second source said, adding that demand for high-performance is currently "zero". The source said that internally, Ferrari's second electric car is seen as the real game changer for its EV strategy, while the first one is more of a low-volume, symbolic milestone model that will meet its promise to launch its first EV in 2026. Ferrari's first EV, which was co-designed by former Apple Chief Design Officer Jony Ive, will cost over $500,000, Reuters reported last year. One of the sources described it as an atypical model for Ferrari, saying it would be larger than normal, but it would not be an SUV. The source said the second EV model will be more in line with the company's strategy of delivering around 5,000 to 6,000 units over a five-year lifespan for a typical Ferrari model, which is currently unsustainable because of a lack of customer interest. Ferrari will present its new long-term business plan to investors on Oct. 9.
Time of India
3 days ago
- Business
- Time of India
Meta teases smart glasses collaboration with Oakley; launch set for June 20
Tired of too many ads? Remove Ads Tech major Meta is set to expand its smart glasses portfolio through a new collaboration with eyewear maker Oakley. A new Instagram handle, @oakleymeta, posted a teaser video with the Oakley and Meta logos side by side, much like the branding used for the Ray-Ban Meta smart glasses . The video ended with 'The next evolution is coming on June 20.'Meta CEO Mark Zuckerberg reposted the teaser, adding to the anticipation, other senior executives shared the video as first entered the smart glasses space in 2021 with the launch of Ray-Ban Stories glasses that came with built-in speakers and a camera, but without any augmented reality features. The second-generation version, released in 2023 for $299, added a better camera, improved audio, and an AI like Ray-Ban, is owned by Italy-based eyewear conglomerate EssilorLuxottica. This collaboration is an extension of Meta's existing partnership with the to a report in January by news agency Bloomberg, the Oakley-Meta glasses will be based on the Oakley Sphaera model and may feature a centrally placed built-in camera, unlike the Ray-Ban Meta glasses , where the camera sits on the edge of the frame. Earlier this month Snap Inc., the parent company of ephemeral messaging app Snapchat, announced that it will launch immersive smart glasses called Specs in 2026. This move aligns with other Big Tech players eyeing the lucrative smart eyewear market , as part of their push to make the next big leap in consumer tech hardware.
