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Ferrari says going electric means ‘even more unique’ cars

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Electric and hybrid models should make up 80% of Ferrari’s (RACE.MI) sales by 2030, the luxury carmaker told investors on Thursday, vowing to produce “even more unique” cars as it leans on partners to make the costly shift to zero-emission driving.

“Everything we do will always focus on being distinctively Ferrari,” chairman John Elkann said as the company unveiled its new business plan. Electrification “will allow us to make even more unique cars.”

To reduce investments, Ferrari will use suppliers for components or software that are not crucial, such as an operating system, Chief Executive Benedetto Vigna said.

Like other sports carmakers, Ferrari’s challenge goes beyond just investing in electric models to deliver high performance – today’s electric vehicle (EV) batteries cannot match combustion engine sports cars’ sustained power.

Like its rivals, Ferrari also sells an emotional experience to wealthy customers centred on the throaty roar of its powerful engines. As it goes electric, Ferrari must ensure its high-net worth customers and investors are along for the ride.

Standing out in the multitude of EVs coming to market that can all accelerate quickly could be tough for the Italian carmaker, whose cars start at around 210,000 euros ($219,282.00).

In the meantime, Ferrari will unveil its first ever sport-utility vehicle – powered by its gas-guzzling trademark 12-cylinder engine – this September.

Vigna confirmed Ferrari will launch its first electric model in 2025, one of 15 new models between 2023 and 2026.

Ferrari expects fully-electric cars will make up 5% of sales in 2025 and 40% in 2030. Hybrid models should rise to 55% of sales in 2025 from 20% in 2021, before dropping to 40% in 2030.

Vigna said Ferrari would develop its own electric motors, inverters and battery modules on a new assembly line at its plant in Maranello, Italy, while outsourcing non-core components.

To save money Ferrari will not develop an operating system for EVs. In contrast, other automakers, including Tesla (TSLA.O) and Mercedes (MBGn.DE), say proprietary operating systems to run cars, manage wireless upgrades and collect data on driver habits and preferences are crucial.

“I will never build a Ferrari operating system, I would be foolish,” Vigna told investors. “You have to focus on the areas where you can be the best.”

Ferrari is working with four partners in Europe and Asia on battery components to research the next generation of high energy density solid state batteries.

Ferrari said it will invest 4.4 billion euros by 2026, while delivering core earnings of 2.5-2.7 billion euros by that year. Ferrari’s current guidance for 2022 is for adjusted core earnings of 1.65-1.70 billion euros.

The carmaker expects cumulated free cash flow of 4.6-4.9 billion euros from 2022 to 2026.

In a client note Kepler Cheuvreux analyst Thomas Besson said Ferrari’s financial forecasts sent a “clear bullish signal,” yet noted executives avoided questions about production volumes.

“But the direction is clear,” Besson wrote. “Electrification is required but will not change the DNA of the company and its products.”

Science & Technology

‘Massive cyberattack’ brings down Elon Musk’s X

Digital Trends reported Tuesday that there are reports suggesting X is still having issues

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Social media platform X went down intermittently on Monday, with owner Elon Musk blaming an unusually powerful cyberattack.

“We get attacked every day, but this was done with a lot of resources. Either a large, coordinated group and/or a country is involved,” Musk said in a post on X on Monday.

He did not clarify exactly what he meant by “a lot of resources” and his comments drew skepticism from cybersecurity specialists, who pointed out that attacks of this nature — called denials of service — have repeatedly been executed by small groups or individuals.

X faced intermittent outages, according to Downdetector, Reuters reported.

Digital Trends meanwhile reported Tuesday that there are reports suggesting X is still having issues. 

Internet industry experts have said X was hit by several waves of ‘denial of service’ throughout Monday. 

Musk said in an interview with Fox Business Network’s Larry Kudlow the cyberattack came from IP addresses originating in the Ukraine area.

An industry source told Reuters he disputed Musk’s account, saying that large chunks of the rogue traffic bombarding X could be traced back to IP addresses in the United States, Vietnam, Brazil and other countries, and that the amount of rogue traffic coming directly from Ukraine was “insignificant.”

In any case, denial of service attacks are notoriously hard to trace back to their authors and the IP addresses involved rarely provide any meaningful insight into who was behind them, Reuters reported.

Musk has joined U.S. President Donald Trump, whom he serves as an adviser, in criticizing Ukraine’s continued efforts to fight off a Russian invasion. 

Musk said on Sunday that Ukraine’s front line “would collapse” without his Starlink satellite communications service, though he said he would not cut off Ukraine’s access to it.

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NASA says ‘city killer’ asteroid has a 3.1 % chance of striking Earth in 2032

Despite the rising odds, experts say there is no need for alarm

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An asteroid that could level a city now has a 3.1-percent chance of striking Earth in 2032, according to NASA data released Tuesday — making it the most threatening space rock ever recorded by modern forecasting.

Despite the rising odds, experts say there is no need for alarm. The global astronomical community is closely monitoring the situation and the James Webb Space Telescope is set to fix its gaze on the object, known as 2024 YR4, next month.

“I’m not panicking,” Bruce Betts, chief scientist for the nonprofit Planetary Society told AFP.

“Naturally when you see the percentages go up, it doesn’t make you feel warm and fuzzy and good,” he added, but explained that as astronomers gather more data, the probability will likely edge up before rapidly dropping to zero.

2024 YR4 was first detected on December 27 last year by the El Sauce Observatory in Chile.

Astronomers estimate its size to be between 130 and 300 feet (40–90 meters) wide, based on its brightness. Analysis of its light signatures suggests it has a fairly typical composition, rather than being a rare metal-rich asteroid.

The International Asteroid Warning Network (IAWN), a worldwide planetary defense collaboration, issued a warning memo on January 29 after the impact probability had crossed one percent. Since then, the figure has fluctuated but continues to trend upward.

NASA’s latest calculations estimate the impact probability at 3.1 percent, up from 1.6 percent last month, with a potential Earth impact date of December 22, 2032.

Richard Moissl, head of the European Space Agency’s planetary defense office, which puts the risk slightly lower at 2.8 percent told AFP that  this “is not a crisis at this point in time. This is not the dinosaur killer. This is not the planet killer. This is at most dangerous for a city.”

If the risk rises over 10 percent, IAWN would issue a formal warning, leading to a “recommendation for all UN members who have territories in potentially threatened areas to start terrestrial preparedness,” explained Moissl.

Unlike the six-mile-wide (10-kilometer-wide) asteroid that wiped out the dinosaurs 66 million years ago, 2024 YR4 is classified as a “city killer” — not a global catastrophe, but still capable of causing significant destruction.

Its potential devastation comes less from its size and more from its velocity, which could be nearly 40,000 miles per hour if it hits.

If it enters Earth’s atmosphere, the most likely scenario is an airburst, meaning it would explode midair with a force of approximately eight megatons of TNT — more than 500 times the power of the Hiroshima bomb.

But an impact crater cannot be ruled out if the size is closer to the higher end of estimates, said Betts.

The potential impact corridor spans the eastern Pacific, northern South America, the Atlantic, Africa, the Arabian Peninsula, and South Asia — though Moissl emphasized it is far too early for people to consider drastic decisions like relocation.

The good news: there’s ample time to act.

NASA’s 2022 DART mission proved that spacecraft can successfully alter an asteroid’s path, and scientists have theorized other methods, such as using lasers to create thrust by vaporizing part of the surface, pulling it off course with a spacecraft’s gravity, or even using nuclear explosions as a last resort. — Agence France-Presse

 

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Panjshir will soon be connected to national fiber optic network

The statement said that this project covers a 36-kilometer route from Gulbahar to Bazarak, and the districts of Shatal, Anaba and Rukha will also benefit from fiber optic services.

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The Panjshir provincial media office said in a statement on Wednesday, February 1 that practical work was to connect the province to fiber optic will begin within the next month.

The statement said that this project covers a 36-kilometer route from Gulbahar to Bazarak, and the districts of Shatal, Anaba and Rukha will also benefit from fiber optic services.

The statement added that the project is being implemented by Afghan Wireless, Afghan Telecom and ICG companies as a result of the efforts of the Panjshir provincial administration and the special attention of the leadership of the Ministry of Communications and Information Technology of the Islamic Emirate of Afghanistan.

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