Ferrari first SUV

With the Lamborghini Urus set to make its official debut later this year, Ferrari is jumping into the SUV segment as well.

The Italian car maker announced this week that it will build its first-ever SUV.

At the New York Stock Exchange this week, Ferrari CEO Sergio Marchionne said the company will take the next 30 months to decide on production, adding that they are “dead serious” about it.

“We’re dead serious about this,” he said. “We need to learn how to master this whole new relationship between exclusivity and scarcity of product, then we’re going to balance this desire to grow with a widening of the product portfolio.”

Marchionne also said the new Ferrari SUV may be called the “FUV”, or a “Ferrari Utility Vehicle.”

So far, the closest Ferrari has to an SUV currently is the FF model, with boasts four seats.