MARANELLO – Ferrari on Thursday announced plans to convert 80% of its production to fully electric or hybrid cars by 2030, marking a big shift for an iconic brand known for its powerful internal combustion engines.
“Electrification is a way to improve performance,” new CEO Benedetto Vigna said during the presentation of a four-year strategic plan at the brand’s historic site in Maranello, northern Italy.
The 2022-2026 plan will be fueled by the launch of new products – including Ferrari’s first all-electric car, which will be unveiled in 2025.
“Ferrari’s first all-electric car will be a 100% sports car,” said Ferrari commercial director Enrico Galliera.
“We are going to develop an electric car that conveys the same emotions as driving a (traditional) Ferrari,” he promised, without revealing any technical details.
The Italian luxury carmaker plans to expand its Maranello plant and create a third production line for hybrid and electric vehicles.
According to the plan, around 60% of production will be all-electric or hybrid models by 2026, rising to 80% by 2030.
Other new products to come include Ferrari’s first SUV, the Purosangue (Thoroughbred), which will be unveiled in September with deliveries starting in 2023.
Including the all-electric offering, another 15 new launches are expected between 2023 and 2026, Vigna said.
Ferrari, which celebrates its 75th anniversary this year, broke new revenue records in 2021 with 11,155 cars delivered – up 22.3% – and sales of 4.3 billion euros (up 23, 4%).
He said Thursday he was setting an ambitious revenue target. The 2026 target of 6.7 billion euros ($7 billion) is well above estimated sales this year of around 4.8 billion euros.
Vigna hasn’t revealed many details about the new Purosangue other than that it will be a sports car and will come with a V12 engine, a hallmark of the mythical brand.
But he said: “I’m confident he will exceed all expectations.”
He highlighted its exclusivity, saying it would average less than 20% of total shipments.
Under the previous strategic plan unveiled in 2018, Ferrari also promised the launch of 15 cars – a target which Vigna says has been achieved.
- Editor/ additional report by AFP