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Economic Times
8 hours ago
- Automotive
- Economic Times
Xiaomi made a cheap Ferrari EV. Who needs Porsche?
Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Watching the launch last week of Xiaomi Corp.'s luxury electric sport utility vehicle, the YU7, stirred up two strong emotions: wonder at its impressive technology, and deep foreboding for the future of Western YU7 is the complete package — a stylish and tech-laden SUV with up to 835 kilometers (519 miles) of driving range, all for an affordable price. The entry-level version costs just RMB 253,500 ($35,400).Xiaomi scores few points for design originality — the YU7 looks like a cross between a Ferrari Purosangue and a McLaren, while its first model, the sporty SU7 sedan, bears a striking resemblance to the Porsche Taycan. Even so, these are astonishing achievements for a smartphone company that entered the automotive industry just four years ago. I was not in the least surprised the YU7 received almost 300,000 orders within one the YU7 directly competes with Tesla Inc.'s Model Y in China and isn't available in the US or Europe for now, Western premium and luxury automakers with far higher sticker prices should fear the increasingly sophisticated EVs China is churning will they compete once the growling combustion engines that define their brands disappear? Investors appear confident Ferrari will retain its cache. Indeed, it's fortunate that China accounts for less than 10% of the Prancing Horse's global sales, because the V12 Purosangue starts at around $430,000 and once customized costs far and Germany's other premium automakers don't appear as resilient. Offering a fake V8 engine noise as Mercedes-Benz Group does on the electric hypercar concept it teased last week won't automated driving and digital connectivity are turning autos into cellphones on wheels. Hence consumer electrics companies like Xiaomi and Huawei Technologies Co. are pushing into the EV marketand thereby offering seamless digital ecosystems, making Apple Inc.'s failure to develop a car appear like an even bigger danger for luxury automakers is their products become commoditized. Rapid acceleration, a chief selling point of Western sportscar brands, is now commonplace in EVs: Xiaomi's cars have achieved some blistering lap times at the Nürburgring (the industry's benchmark). Meanwhile, China's faster innovation and product development cycles threaten to make manufacturers that can't iterate as quickly appear old hat. Consumer perceptions are also changing. In China at least, luxury is increasingly about offering advanced software, voice recognition and artificial intelligence. However, customers aren't necessarily willing to fork out a lot for these features.'An Apple Watch can do everything better: It can do a thousand more things; it's a lot more precise; it can measure your heart rate. But nobody would pay $200,000 for an Apple Watch,' Bugatti-Rimac Chief Executive Officer Mate Rimac said last year, explaining why sales of the more than $2 million electric Nevera hypercar have been disappointing and why Bugatti's new $4.5 million hypercar, the Tourbillon, offers analogue instruments and a hybrid powertrain to retain EV sales are booming in China, the very top segment of the market remains comparatively small, in part because consumers can get good quality tech and interior comforts at much lower price points. (Geely's high-end EV brand Lotus Technology Inc. has been forced to pivot to hybrids rather than remain in its small niche, while Nio Inc. has moved downmarket with its Firefly and Onvo sub-brands.)I've been impressed by some of BMW AG's EVs, and it's expected to build on that foundation with its upcoming Neue Klasse technology. But other Western manufacturers' products often aren't good enough considering how much they cost. Mercedes-Benz Group AG is reportedly struggling to sell the $160,000 electric version of its iconic G-Class SUV, the G580, due in part to the 3085-kilogram (6,800-pound) vehicle's limited range and towing capacity; this has added to the German manufacturer's lengthening roster of EV flops. Eye-watering depreciation of luxury EVs like the Porsche Taycan is also deterring wonder Lamborghini doesn't plan to launch its first EV until the end of the decade, while Ferrari NV is reportedly delaying its second EV until at least 2028 (the first will go on sale next year after a protracted launch).But there are risks in feet-dragging: Imagine what Xiaomi, Aito, Maextro, BYD Co.'s Yangwang and their ilk will be capable of in five years?Porsche CEO Oliver Blume has said he doesn't consider Xiaomi to be a competitor and claims to be 'very relaxed' about its achievements on the racetrack. 'Customers who love the sportiness, the driving dynamics of Porsche stick to the brand,' he told analysts in the Stuttgart-based automaker seems to have accepted its best days in China are over. Rather than cut prices, it's closing around one-third of its local dealers after the comparatively expensive electric Taycan and Macan failed to sell well. And Blume isn't ruling out giving up on selling EVs in China now, the US is essentially off-limits to Chinese EVs due to a combination of import duties and cybersecurity rules. And while European tariffs aren't as high, Chinese luxury brands have made only limited inroads here so loyalty to long-established brands, the slower pace of electrification, and the difficulties of establishing sales and service networks offer Western automakers some protection at home. But in emerging markets — which Chinese automakers are now aggressively targeting — it's a different the only way for luxury automakers to sustainably defend their premium pricing in the era of electric and software-defined vehicles is to show they can exceed the best that China can offer. From what I saw last week, that'll be a very tall order.
Hindustan Times
18-06-2025
- Automotive
- Hindustan Times
Ferrari delays second electric car to 2028 amid weak EV demand
Ferrari's first electric vehicle, launching in 2026, is predicted to be a flagship and limited-run symbolic launcher into the EV market. Check Offers The Italian supercar and hypercar maker, Ferrari is reportedly scaling back its electric ambitions due to underwhelming consumer interest. The iconic Italian automaker has now delayed its second EV model to 2028—two years later than originally planned—citing lackluster demand for electric performance cars, a report by Reuters stated. Now, while there's a shift across the board to electric vehicles, electric supercars are still coming to grips with the market availability. Mate Rimac, founder of Rimac Automobili, and a key player in the EV hypercar market, suggests that the marketplace hasn't taken to electric supercars readily yet. If brand identity was built around visceral, petrol powered performance - like Ferrari, it presents a challenge to convince the client to go electric. Also Read : Ferrari 12Cilindri roars into India with V12 power. Check details Ferrari's first electric vehicle, launching in 2026, is predicted to be a flagship and limited-run symbolic launcher into the EV market. Generally, it is a milestone in making good on the promise to deliver an EV car. But rather than showing a move into EV themselves, the second model, touted to have a wider availability will be delayed. Limited appeal, limited volume Historically, Ferrari sells between 5,000 to 6,000 units of its mainstream models over a five-year span. However, according to insiders quoted by Reuters, replicating this success with an electric version in the current market seems unlikely. Simply put, the appetite for an electric Ferrari isn't there yet—especially among traditional buyers who crave the roar of a combustion engine. The delay not only reflects demand concerns but also provides additional time for Ferrari to refine its EV technologies. The company has filed patents for a simulated engine and transmission system designed to bring some of the tactile excitement of internal combustion to electric platforms, akin to what Hyundai has done with the Ioniq 5 N. Nonetheless, technological innovation alone isn't enough if customers aren't eager to buy in. Also Read : Sales of Ferrari's first EV to start in October next year, says CEO Not just a Ferrari problem Ferrari is not alone in revisiting its EV strategy. Lamborghini pushed its first EV back to 2029, while Maserati abandoned its electric MC20 altogether. This trend is part of a wider shift among the luxury performance market—where the emotional and sensory engagement with petrol power remains a huge draw. A strategic pause Given EV purchasing is lower than forecast and governments easing cryptocurrency bans on fossil fuel vehicles, the likelihood of Ferrari's delay is a smart move. Rather than pushing forward into a market it did not advance enough for, Ferrari is tacking left, likely holding onto its desirability and avoiding a potentially costly mistake. However, the market can change quickly. If performance EVs take off, Ferrari will be forced to quickly transition and remain relevant. In the meantime, the Prancing Horse will hang back to watch, wait, and prepare itself for the market to be ready for a Ferrari electric vehicle. Check out Upcoming Cars in India 2024, Best SUVs in India. First Published Date: 18 Jun 2025, 10:13 AM IST
Motor 1
18-06-2025
- Automotive
- Motor 1
'Zero' Demand: Ferrari Is Reportedly Delaying Its Second EV
Electric performance cars have proven to be a hard sell. Even Mate Rimac, who started a company that makes EV hypercars, thinks so, and that's proving to be bad news for Ferrari. Reuters, citing anonymous sources, reports that Ferrari is delaying its second EV from 2026 to 2028, because right now, there's evidently "zero" demand for such a car. The Reuters story, which The Drive brought to our attention , says that Ferrari's first EV will be a low-volume special model, and a "symbolic milestone model that will meet its promise to launch its first EV in 2026." The second electric Ferrari, which was supposed to arrive by the end of next year, will be a higher-volume production car. Ferrari sells around 5,000 to 6,000 examples of each regular-production model over a five-year run, but one of Reuters' sources said that would be impossible with an EV arriving next year. There's virtually no customer interest, so Ferrari is delaying the model until 2028 at the earliest. This additional time also has the side benefit of allowing Ferrari to further develop its EV technology. We reported previously Ferrari has applied for patents on a virtual engine-and-transmission system for electric cars , not unlike what Hyundai has done successfully with the Ioniq 5 N. Still, one of Reuters' sources said that the main reason for the delay is the demand issue, not anything having to do with the car itself. Ferrari isn't the only Italian performance-car brand to delay its electric performance car plans. As Reuters notes, Lamborghini pushed back the launch for its first EV from 2028 to 2029 , and Maserati outright killed the electric MC20 . EV demand is slower than many automakers once anticipated, and regulatory pushes to end gas-car production have been either delayed or abandoned entirely. For Ferrari, a wait-and-see approach might not be such a bad thing, rather than committing to something it might not need to build after all. Or, customers might suddenly embrace performance EVs at a greater rate. More on Ferrari's EV The Electric Ferrari Isn't Coming This Year Ferrari's EV Has a Fake Exhaust Noise. Here's What It Sounds Like Get the best news, reviews, columns, and more delivered straight to your inbox, daily. back Sign up For more information, read our Privacy Policy and Terms of Use . Share this Story Facebook X LinkedIn Flipboard Reddit WhatsApp E-Mail Got a tip for us? Email: tips@ Join the conversation ( )
Auto Blog
07-06-2025
- Automotive
- Auto Blog
Mate Rimac Plans BMW E30 V10 Restomod, But Not Anytime Soon
It all started with an E30 BMW, and now the electric entrepreneur wants to shove a gas V10 into it. Electric Hypercar CEO Still Has a Soft Spot for the E30 Mate Rimac's path to fame and electric hypercardom started as a teenager racing an E30 BMW 3 Series, and it's been quite the story to follow. His Concept One electric supercar first put him into the international spotlight, and the current-day Nevera hypercar has set many records in its wake. But his love for the E30 has remained strong, and his ultimate E30 restomod isn't an electric one, but a V10-powered beast. All Roads Lead To E30 When the engine of the E30 BMW he raced blew up, he converted the gas powertrain to an electric one in 2008 when he was barely 20 years old. He founded the Rimac Group, and now he's also the CEO of Bugatti Rimac. His meteoric rise to stardom makes him one of the preeminent people in the automotive industry at only 37 years of age. Yet, it seems, his love affair with the E30 has not dimmed one bit. Why Rimac's Personal E30 M3 Is Too Rare to Modify Mate owns a 1990 E30 M3 Evolution III, one of only 600 cars made, and one of the rarest and most special E30s ever, right up there with the highly collectible M30-powered South African 333i, of which only a little over 200 were ever made. The Rimac boss is unlikely to molest his pristine M3, so his V10 engine will likely be shoved into a dedicated project car. He's been tight-lipped about exactly what engine the V10 will be, though. Surely the high-revving S85B50 found in the E60 M5 and E63 M6 will satisfy the requirements for a lightweight NA V10, while keeping it all nicely BMW in the process? We can't be sure, but it would make the most sense. Autoblog Newsletter Autoblog brings you car news; expert reviews and exciting pictures and video. Research and compare vehicles, too. Sign up or sign in with Google Facebook Microsoft Apple By signing up I agree to the Terms of Use and acknowledge that I have read the Privacy Policy . You may unsubscribe from email communication at anytime. Rimac Says Restomod Will Have to Wait While the internet is getting all riled up about Mate Rimac's V10 E30, let us remind you that it's just an idea in his mind right now. He is preoccupied with running his automotive empire and possibly expanding into robotaxis, so there's hardly a spare minute to spend on painstakingly constructing an epic BMW restomod. He sees it as little more than a retirement project at the moment, so we might be in for a long wait. About the Author Cobus F. Potgieter View Profile
Motor 1
02-06-2025
- Automotive
- Motor 1
Bugatti Boss on Turbocharged Hybrid Supercars: 'I Don't Get It'
While the Chiron was essentially an evolution of the Veyron before it, the Tourbillon represents a radical departure. Molsheim's all-new performance flagship ditches the quad-turbo W-16 engine in favor of a V-16 without forced induction. Cosworth helped develop the naturally aspirated powerhouse, which features an 8.3-liter displacement and an impressively low curb weight. It tips the scales at just 556 pounds, or about 42 percent less than the Chiron's heart. Bugatti and Cosworth engineers achieved the significant weight reduction partly by eliminating the four turbochargers. Mate Rimac told Top Gear magazine he doesn't see the point of using turbos in a hybrid supercar, arguing that the hybrid component compensates for the loss in power while providing the benefits of electrification. In the Tourbillon, there's a large battery with a gross capacity of 24.8 kilowatt-hours, good for 43 miles (70 kilometers) of range without firing up the V-16. Photo by: Bugatti 'I have driven them all and I don't get it, really. Why would you have a hybrid powertrain with a turbo engine? Like, a turbo engine is a compromise on its own, right?' Bugatti Rimac's head honcho revealed that deleting the quad-turbo setup resulted in a 600-horsepower loss. However, the three electric motors compensate, and then some, delivering a combined 800 hp. Factoring in the combustion engine, which produces 1,000 hp on its own, the Tourbillon is more potent than its predecessors and ends up lighter. Aside from dropping the turbos, the weight savings also come from a new suspension that's 45% lighter, thanks to 3D printing. The whole car weighs less than 4,398 pounds (1,995 kilograms) with all fluids and a nearly full tank of gas. While most hybrid supercars are turbocharged, the Lamborghini Revuelto sticks to a naturally aspirated V-12. The LaFerrari also featured a naturally aspirated, electrified twelve-cylinder engine, but the new F80 uses a twin-turbo 3.0-liter V-6. While Porsche hasn't released a follow-up to the 918 Spyder and its naturally aspirated 4.6-liter V-8, the Mission X concept strongly hinted at a purely electric setup. Mate Rimac isn't closing the door on a pure ICE version of the V-16. He's also open to the idea of a downsized hybrid configuration, even a single-motor Tourbillon that skips the pair of front motors to reduce fat further. A roadster is all but confirmed, so there are big plans beyond the 250 coupes planned for production. Meanwhile, deliveries of the 'normal' car will begin next year but not before producing 35 prototypes for testing purposes. Currently, Bugatti is hard at work delivering the remaining Bolide and Mistral units as the last examples of the W-16 breed . Bugatti Tourbillon 58 The New Performance Flagship: The Bugatti Tourbillon's V-16 Engine Sounds Amazing The New Bugatti Has Something in Common with an Old Citroen Get the best news, reviews, columns, and more delivered straight to your inbox, daily. back Sign up For more information, read our Privacy Policy and Terms of Use . Source: Top Gear Share this Story Facebook X LinkedIn Flipboard Reddit WhatsApp E-Mail Got a tip for us? Email: tips@ Join the conversation ( )
