Hugh Pickens writes writes "Fred Meier reports that Ferrari has unveiled its fastest car ever, a nearly 1000 hp. gas-electric hybrid dubbed LaFerrari that does 0-62 mph in less than 3 seconds, 0-124 in less than 7 seconds, 0-186 mph in 15 seconds. "We chose to call this model LaFerrari," says Ferrari's President, Luca di Montezemolo, "because it is the maximum expression of what defines our company – excellence. ...Aimed at our collectors, this is a truly extraordinary car which encompasses advanced solutions that, in the future, will find their way onto the rest of the range." LaFerrari is the company's first hybrid and has a system that incorporates technology developed for the Scuderia Ferrari Formula One race car's KERS (kinetic energy recovery system) setup. In LaFerrari, the hybrid (HY-KERS) version uses a 6.26-liter, non-turbo, V-12 gas engine rated at 800 hp coupled with a 163 hp. electric motor for a combined rating of 963 hp. A second, separate electric motor drives the power accessories. The 60 kilogram battery pack in the cabin floor is charged during braking and also when the gas engine is producing more torque than needed to move the car, in which case that torque is converted to energy and stored. The LaFerrari, priced at over $1 million and limited to 499 buyers fits into Ferrari’s strategy of boosting profitability with ever-more-luxurious offerings while limiting its annual output to about 7,000 cars to maintain exclusivity. “After several depressing years, wealthy drivers in Europe think the worst is behind us, and they’ll start spending again on their favorite cars,” says Fabio Barone, the owner of two Ferraris ."