CEO Benedetto Vigna said: "We have tested several options, it was clear that the V-12, for the performance and driving experience it could provide, was the right option for the market."
He was speaking on Wednesday after the company presented its first quarter results which showed a 12 percent rise in its core earnings as demand for its sports cars remained strong despite global political turmoil.
The choice to power the Purosangue with its most powerful engine marks a break from Ferrari's recent strategy which had focused on less polluting V-8 and V-6 hybrid models, such as in the case of the recently unveiled 296 GTS.
Asked whether the Purosangue will get other powertrains in the future, Vigna did not comment.
The Purosangue will compete with the Lamborghini Urus and the Bentley Bentayga. It will be unveiled later this year and production will begin before the end of the year. Deliveries will start next year.
The SUV is the last of 15 models included in Ferrari's 2018-2022 product plan. Ferrari has already presented four hybrid models and promised a full-electric car for 2025.
Ferrari gave no hint of the price positioning of the Purosangue, nor sales targets. "We will keep in mind our need to preserve exclusivity," Vigna said. "We don’t fear cannibalization of other GT models in our range, as there are different Ferraris for different customers and moments," he said.