After vehemently denying that they’re going to build an ultraluxury SUV, Ferrari has done a 180 and has all but confirmed what was once unthinkable: a Ferrari SUV.

In an interview with Bloomberg via Automotive News, Ferrari CEO Sergio Marchionne confirmed that the company is looking at making an SUV saying: “It will probably happen but it will happen in Ferrari's style…That space is too big and too inviting and we have a lot of our customers who will be more than willing to drive a Ferrari-branded vehicle that has that king of utilitarian objective.”

Marchionne did reiterate that the Ferrari board has not yet approved anything as of the moment, and even if they do, the Ferrari SUV will not “compete with Porsche.” Undoubtedly though, there’s an insatiable appetite for ultraluxury SUVs and carmakers from Aston Martin to Lamborghini are all in the process of creating one.

This news of a Ferrari SUV comes as the famed Italian sportscar maker also plans to boost its range of hybrid sportscars. In fact, Marchionne said that the Maranello plant has the potential to double its production output from the current self-imposed limit of 10,000 vehicles annually to accommodate these new range of vehicles. This move aims to double the company profit by 2022.

Ferrari also plans to release more limited edition models as the company nears its 70th anniversary.

Source: Automotive News