Ferrari have been experimenting with KERS (kinetic energy recovery system) hybrids in both their Formula 1 cars and road going sports cars since at least 2009, now according to Ferrari Chairman Luca Cordero di Montezemolo, Ferrari are developing an all new hybrid designed to replace the venerable Enzo hypercar.

Rather than a typical battery based hybrid Ferrari will be sticking with the flywheel based KERS hybrid system that they debuted in the much touted 599 Hy-KERS at this year’s Geneva Motorshow. The flywheel essentially stores energy usually lost under braking in a transmission mounted flywheel and then uses that stored kinetic energy to add a boost of power when the driver hits a little red button in the cockpit. Formula 1 used a KERS hybrid system in the 2009 season and will resume the use of KERS in the upcoming 2011 season.

The new model is due out in 2012 and will also undergo a feat of weight loss, inline with Ferrari’s desire to boost fuel economy without sacrificing performance.