The Italian sports carmaker Ferrari announced that it will launch 15 new models by 2022, including its first SUV.  It is part of the five year plan of the new CEO –

The company also intends to launch its first SUV, Purosangue, at the end of the five-year period.

Chief executive Louis Camilleri said his plan was “ambitious” but “do-able”, based on a detailed framework.

Mr Camilleri took the helm at Ferrari in July, following the death of Sergio Marchionne.

Ferrari now wants to achieve adjusted core earnings of €1.8bn-€2bn (£1.6bn-£1.8bn) by 2022.

The aim is to develop new vehicles and move towards hybrid petrol-electric models, which will make up 60% of its range by the end of the five-year plan.

Chief marketing officer Enrico Galliera said the new models would come with a “significant” increase in the average price.