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Ferrari extends Kimi Raikkonen's contract for 2016

Veteran Formula One driver Kimi Raikkonen's second stint with Ferrari will continue in 2016, and the team announced Wednesday it's extending the Finn's contract for another season. Financial terms were not disclosed. The 35-year-old is fifth in the driver's standings this year with 76 points heading into this weekend's Belgian Grand Prix. Nicknamed the "Ice Man," Raikkonen won the 2007 World Championship with Ferrari. He left the Scuderia in 2009 and dabbled in World Rally Championship and NASCAR competition, before returning to F1 in 2012 with Lotus. He's been back with Ferrari since the 2014 season. "We believe that extending Kimi's contract into the next season will provide further stability to the team," team principal Maurizio Arrivabene said in statement. "This has been our guideline, also considering the very good relationship between Kimi and Seb [Sebastian Vettel]. On our side, this shows our great confidence in him, and I expect this confidence to be well-rewarded." Raikkonen has teamed with Vettel (who's third in driver's points) to key the Scuderia's bounce-back season. Ferrari, the sport's oldest and most successful team, is second in the constructor's standings this year with 236 points, trailing Mercedes (383). "For me, to be able to stay another year at Ferrari means that the dream goes on," Raikkonen said in a statement. "The Scuderia is my family, as I always said, it's here I want to end my career. I am more committed than ever and I want to say thank you to the people who gave me this chance." The announcement comes as Ferrari prepares for its historic 900th grand prix. It's won 16 races in Belgium, including 12 victories as Spa-Francorchamps. The team's most recent win there was in 2009 – by Raikkonen. Related Video:

Ferrari looks to cut 20% total C02 emissions over 7 years

In the late 1970s, performance cars suffered a huge blow when the necessity for better economy and lower emissions crippled their power. It took nearly a decade for the horsepower to return. Today, we're in the middle of another push for greater vehicle efficiency, but don't expect another era of malaise this time. Instead, lightweight materials, turbos and hybrids mean that everyone can be happy. However, the pressure to clean up isn't just for the mass market, supercars must improve too, but Ferrari at least seems to be taking on the challenge in stride.
Ferrari Powertrain Director Vittorio Dini recently told Automotive News Europe that the Prancing Horse will improve its current average C02 emissions of 270 grams per kilometer by 20 percent by 2021, to reach about 216 grams of C02 per kilometer. To achieve these lofty ambitions, the company will exploit a relatively simple path. "In the future, all of our V8s will use turbos," said Dini said to ANE. Also, its V12s will use hybridization because it'll be a better choice for them compared to the heat of multiple turbos, he claimed.
The first steps of this strategy are already in front of us. The new California T ditches its naturally aspirated V8 in favor of a smaller displacement, more powerful turbocharged unit, and the LaFerrari is already using the hybrid V12. Dini's quote certainly lends some credence to the rumor that the 2015 refresh for the 458 Italia may use an even more powerful version of the California's turbo V8. With a new Ferrari model planned for each year between now and 2018, the Prancing Horse seems unperturbed by any threats posed by emissions.

Ferrari to introduce a V8 hybrid supercar this year

Ferrari is bringing a new mid-engine V8 supercar to the market this year — but with a hybrid drivetrain this time. Last year, then-Ferrari CEO Sergio Marchionne told Auto Express that a hybrid V8 was coming, and Automotive News is now reporting that a hybrid supercar will debut later this year. According to Automotive News, the new Ferrari won't be displayed at the Geneva Motor Show next month, but it will have an unveiling event of its own later on. It will sit above the 488 Pista, as it will have more power. Automotive News quotes Ferrari CEO Louis Camilleri as having confirmed the car on an earnings call in late January, saying that it will be more profitable than for example the 812 Superfast and that deliveries will start a year from now. The hybrid V8 supercar marks a step ahead for Ferrari, as it means hybrid tech will no longer be reserved to limited-edition specialties like the KERS-boosted LaFerrari, but that the technology will feature in a "regular lifecycle" model. Camilleri also stated that 60 percent of the Ferrari lineup will have a hybrid variant by 2022; this means that there will be pure gasoline variants for petrolheads shunning electric assist, but that Ferrari can also move ahead with the times. The electrified technology that Ferrari is developing is also expected to trickle to Maserati's upcoming Alfieri model that replaces its GranTurismo; that car will also be made in Ferrari's hometown of Modena. Related Video: