Ferrari Creating First Hybrid For 2013 Release, Cutting Fuel Consumption By 40 Percent

It’s evident that even the most elite performance cars are under pressure to get greener as Ferrari SpA plans on turning to fuel-saving hybrid technology to create its most powerful and expensive model.

Ferrari’s first hybrid, dubbed the F70 in trade press and blogs, will probably surpass the $850,000 price tag of the limited-edition Enzo.

The Italian carmaker will use technology developed for Formula One racing, combining two electric motors with a 12-cylinder gasoline engine to produce more horsepower than any previous Ferrari while cutting fuel consumption by 40 percent. The model is part of a wave of green super cars created by high-end automakers making their models more environmentally friendly while still maintaining or boosting performance.