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Earlier this month, Italian exotic automaker Ferrari debuted its new F12 Berlinetta at the 2012 Geneva Motor Show. Ferrari Chairman Luca Cordero di Montezemolo was responsible for the unveiling of the F12 Berlinetta, and now he is once again denying reports of a Ferrari IPO.
Despite addressing these rumors last month about Ferrari going public, new ones surfaced when Italian business tabloid MF said a number of investment banks visited Fiat‘s office to propose a listing last week. Nonetheless, Luca Cordero di Montezemolo has reassured the public that Ferrari is indeed not going public anytime soon; though Sergio Marchionne, Fiat CEO, has left open the possibility of an eventual listing.
By going public, Ferrari has the potential to raise funds for its parent company, Fiat, by leveraging the popularity of its luxury moniker.
GALLERY: Ferrari F12 Berlinetta
Technology has significantly impacted the automotive sector especially when cars are produced in the factory. Computers and robotic platforms assemble engines and build the cars without much help from workers. However Ferrari has a different take on production, with their engines being entirely hand-built.
This video shows the buildup of a 458 Italia engine starting with assembling the crankshaft and ending with the installation of the cam covers. The 11 minute video is a walkthrough of the Maranello facility, with interviews from many members of the Ferrari team. Each of the workers explain their task to produce the 4.5-liter V8. It’s nice to see something made by hand for a change.
Check out the video after the jump!
Ferrari has just announced that the Eternità concept is the winning entrant for their International Design Contest. The contest challenged students to develop the Ferrari hypercar of the future with the latest generation technologies and materials, while preserving the iconic performance and elegance associated with the legendary Italian automaker.
The Eternità was created by students of South Korea’s Hongik Univeristy, with a futuristic roadster with aerodynamic styling, a wraparound windscreeen and aggressive side skirts. Fifty prestigious international design schools entered the competition and the Eternità beat out the Xezri and Cavallo Biaco concepts from students of IED Turin and RCA London. Ferrari chairman Luca di Montezemolo said, ”I saw at first hand the many genuinely innovative ideas that these talented youngsters sent us and could feel the enormous passion and commitment that had gone into them. I am certain that some of these suggestions will come to light in the Ferraris of the future.” The winner was awarded the grand prize of an internship at Ferrari in Maranello, Italy as well as a cash prize.
Ferrari is holding a world design contest to develop the Ferrari of the future. Ferrari, in collaboration with with Autodesk, the technical partner and supporter of the project, is challenging students to develop the Ferrari hypercar of the future with the latest generation technologies and materials, while preserving the iconic performance and elegance associated with the legendary Italian automaker.
Students must focus on lowering fuel consumption,alternative powertrains, and hybrid technology while also emphasizing driving pleasure and weight reduction through their models.
Fifty presigious international design schools began the competition, and now there are seven finalist schools, from all over the world. The finalists include: IED and IAAD from Turin (Italy), the London Royal College of Arts (UK), the European Design Institute Barcelona (Spain), Seoul’s Hong-ik College (Korea), the DSK Supinfocom (India) and the College For Creative Studies in Detroit (USA).
The winner of the design contest will be announced on July 19, including a grand prize of an internship at Ferrari in Maranello, Italy as well as cash prizes. Autodesk will also award the student team that best used Autodesk Alias software to communicate their design and demonstrate their process of design.
The latest in a long line of douchebags writing off exotic cars is one gentleman who apparently took delivery of a Ferrari 458 Italia at Ferrari’s Maranello factory, only to write it off 24 hours later.
The video features the predictable burnouts and revving-really-high-in-a-low-gear type of behavior prone to 17 year old Honda drivers, but then cuts to video of the 458 French kissing a pole. No footage of the actual accident is shown, perhaps to spare the driver further embarrassment…or because it was staged?
Hit the jump to see the full video
[Source: Axis of Oversteer]
Ferrari might be opening a theme park this fall, but there’s already trouble brewing in the automotive world’s Magic Kingdom as the Italian automaker takes steps to idle one of their engine plants and lay off 600 workers after demand for Ferrari engines utilized by sister brand Maserati has fallen.
According to a Bloomberg report, the company intended to make 20,000 vehicles this year, but has reduced targets to 11,000, however Ferrari spokesman Stefano Lai refuted these claims to Bloomberg and said that 6,000 vehicles would be produced.
In an email statement, the company cited the economy as one factor in the layoffs, stating “Ferrari has to respond to market demands that rise and fall in an ever less-predictable fashion.
Ferrari has announced that it will auction off the rights to the very last F430 to roll off the assembly line and donate the proceeds to help citizens of the Abruzzo region that was devastated during the April 6th earthquake in Italy.
Rights to the car will be on the block at a special Ferrari-themed RM Auction this Sunday, however, the car itself will not be built until the end of the year.
The 490hp F430 will come with a special two-tone paint job using the traditional colors (red and blue) of Aquila, the city hardest hit by the earthquake. The owner will then be invited to the Ferrari factory in Maranello to chose the remaining options on the car. Ferrari has said it will toss in several pricey options from its Carrozzeria Scaglietti catalog.
The Italian exotic will come with a certificate signed by Ferrari Chairman, Luca di Montezemolo and a special dedication plaque.
This news also marks the first admission by Ferrari that F430 production will end this year, making the arrival of a concept to succeed the impressive exotic at the Frankfurt Auto Show this Fall almost certain.
Official release after the jump: