Italian Automaker Pininfarina’s Future Luxury SUV Will Likely Have Hybrid Power
By Jim Motavalli
Sat, Aug 10, 2024 7:00am
3 min
3 min
Italian carmaker Automobili Pininfarina’s next production car, a luxury SUV based on the radical Pura Vision concept shown at the Pebble Beach concours event in California last year, will likely not be a battery EV, but is envisioned with plug-in hybrid power.
“We’re looking at all technologies,” CEO Paolo Dellachà tells Penta . “Our commitment to electric will stay—it’s the future—but we’re also investigating hybrid power.”
The CEO won’t yet comment on which internal-combustion engine might reside under the hood of the new SUV, but he says such a luxury car would ideally have up to 50 miles of EV-only range. “We want to maximise the range, but we also don’t want the battery to take up too much interior space or add too much weight,” he says.
Pininfarina Photo
The Pura Vision SUV could be toned down by the time it morphs into a production car, but in concept form, it displays a wide range of design innovation—and is as visually striking as the Tesla Cybertruck.
Dellachà has been in the lead role for a year and a half. But before that he was the company’s chief product and engineering officer, deeply involved in the building of the flagship Battista EV, and had previous appointments at Ferrari and Maserati. He is, in short, a very hands-on CEO.
Pininfarina Photo
The brief for the Battista, he says, was “to create the most powerful car ever built, with great handling that ensured it could do more than accelerate in a straight line. Reaching that goal was only possible with an electric powertrain—we showed what the Battista could do with four electric motors.” The US$2.2 million Battista supercar, featuring an electric powertrain developed with Croatia-based Rimac, achieved its brief—with up to 1,900 horsepower on tap.
There’s no date on the SUV yet, and Dellachà declines to comment on how many Battistas have been delivered, but the U.S. remains the company’s biggest market. And Pininfarina should be very visible during Monterey Car Week, with a rally planned that will feature at least 10 of the company’s Battistas (including all five of the special-edition Anniversario anniversary cars).
Pininfarina Photo
On Pininfarina’s stand at the Quail: A Motorsports Gathering on Aug. 16 will be the world debut of a concept for the one-of-a-kind Pininfarina B95 Gotham, one of four cars being built in collaboration with Warner Brothers Discovery Global Consumer Products’ Wayne Enterprises Experience, which develops curated luxury products. Warner Bros. works with DC Entertainment on Batman films, and Dellachà says the B95 Gotham is “something Bruce Wayne [Batman’s civilian persona] would want to have in his garage. It’s as if he were one of our clients asking us to build a unique project.”
The actual finished B95 Gotham, a variation on the open electric €4.4 million (about US$4.8 million) B95 Barchetta shown last year in an edition of 10, will be delivered to a customer by the end of 2025, Dellachà says. The other three cars in the Warner/Bruce Wayne series, all one-offs, are the Battista Gotham, the Battista Dark Knight, and the B95 Dark Knight.
Dellachà says that the creation of unique cars like the Batman-themed vehicles “will always be part of our business model.”
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Report by the San Francisco Fed shows small increase in premiums for properties further away from the sites of recent fires
By CHAVA GOURARIE
Wed, Aug 28, 2024 3 min
3 min
Wildfires in California have grown more frequent and more catastrophic in recent years, and that’s beginning to reflect in home values, according to a report by the San Francisco Fed released Monday.
The effect on home values has grown over time, and does not appear to be offset by access to insurance. However, “being farther from past fires is associated with a boost in home value of about 2% for homes of average value,” the report said.
In the decade between 2010 and 2020, wildfires lashed 715,000 acres per year on average in California, 81% more than the 1990s. At the same time, the fires destroyed more than 10 times as many structures, with over 4,000 per year damaged by fire in the 2010s, compared with 355 in the 1990s, according to data from the United States Department of Agriculture cited by the report.
That was due in part to a number of particularly large and destructive fires in 2017 and 2018, such as the Camp and Tubbs fires, as well the number of homes built in areas vulnerable to wildfires, per the USDA account.
The Camp fire in 2018 was the most damaging in California by a wide margin, destroying over 18,000 structures, though it wasn’t even in the top 20 of the state’s largest fires by acreage. The Mendocino Complex fire earlier that same year was the largest ever at the time, in terms of area, but has since been eclipsed by even larger fires in 2020 and 2021.
As the threat of wildfires becomes more prevalent, the downward effect on home values has increased. The study compared how wildfires impacted home values before and after 2017, and found that in the latter period studied—from 2018 and 2021—homes farther from a recent wildfire earned a premium of roughly $15,000 to $20,000 over similar homes, about $10,000 more than prior to 2017.
The effect was especially pronounced in the mountainous areas around Los Angeles and the Sierra Nevada mountains, since they were closer to where wildfires burned, per the report.
The study also checked whether insurance was enough to offset the hit to values, but found its effect negligible. That was true for both public and private insurance options, even though private options provide broader coverage than the state’s FAIR Plan, which acts as an insurer of last resort and provides coverage for the structure only, not its contents or other types of damages covered by typical homeowners insurance.
“While having insurance can help mitigate some of the costs associated with fire episodes, our results suggest that insurance does little to improve the adverse effects on property values,” the report said.
While wildfires affect homes across the spectrum of values, many luxury homes in California tend to be located in areas particularly vulnerable to the threat of fire.
“From my experience, the high-end homes tend to be up in the hills,” said Ari Weintrub, a real estate agent with Sotheby’s in Los Angeles. “It’s up and removed from down below.”
That puts them in exposed, vegetated areas where brush or forest fires are a hazard, he said.
While the effect of wildfire risk on home values is minimal for now, it could grow over time, the report warns. “This pattern may become stronger in years to come if residential construction continues to expand into areas with higher fire risk and if trends in wildfire severity continue.”
