Ferrari Chairman John Elkann stated that by 2030, electric and hybrid cars should account for 80% of Ferrari’s sales. As the business presented its new business strategy, Ferrari declared, “Everything we do will always focus on being authentically Ferrari. The use of electricity “will enable us to design even more distinctive cars.”
Ferrari normally manufactures the majority of the parts that go into its cars, but CEO Benedetto Vigna announced that in order to save development costs, the company will work with more vendors on non-essential components like operating systems. According to Autoblog, the least costly Ferrari is currently retailing for $219,282. There is no information on whether shipping fees are included in that sum. Ferrari will introduce its first electric model in 2025 as one of 15 new cars between 2023 and 2026, according to Vigna.
Ferrari projects that 5% of sales in 2025 will be made up of entirely electric vehicles, and 40% in 2030. Hybrid vehicle sales should increase from 20% in 2021 to 55% in 2025 before declining to 40% in 2030. In a new assembly line at its facility in Maranello, Italy, Ferrari, according to Vigna, would build its own electric motors, inverters, and battery modules while outsourcing non-essential components.
Vigna warned investors that he would be silly to create a Ferrari operating system. You must concentrate on the tasks for which you are best suited. Some people might believe that operating systems are quite significant to today’s car consumers. No Ferrari for you if you belong to that group!
Ferrari claims to be conducting research on high energy density solid-state batteries with four partners in Europe and Asia. By 2026, it will have spent EUR4.4 billion on electrifying its new vehicles.
Ferrari’s financial projections, according to Kepler Cheuvreux analyst Thomas Besson, conveyed a “clear bullish signal,” but he highlighted that officials avoided discussing production quantities. “But the path is obvious. Electricity is needed, but it won’t alter the nature of the business or its goods.”
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Ferrari will switch to electric propulsion in 2025, with EV sales reaching 40% by 2030.
Ferrari said today at its annual investor conference that it will produce its first electric (EV) sportscar by 2025.
It also acknowledged that, by 2030, 80% of all vehicles produced will be electric, replacing the usual screaming thunder of its supercars, with 40% of all vehicles produced being pure EVs.
Despite the announcement that the venerable Italian supercar manufacturer intends to become carbon neutral by 2030, shares of Ferrari N.V. fell 0.7% today.
A model flood is coming, according to Ferrari’s strategic 2022-2026 business strategy, which was unveiled today in Maranello. 15 new models are scheduled to be introduced over the next four years, beginning with the Purosangue hybrid SUV in September of this year.
According to Ferrari, electrified vehicles will be “much more distinctive”
As the company presented its new business strategy, chairman John Elkann declared, “Everything we do will always focus on being authentically Ferrari.” The use of electricity “will enable us to design even more distinctive cars.”
Ferrari will employ suppliers for non-essential parts or software, like an operating system, to decrease costs, according to CEO Benedetto Vigna.
Like its competitors, Ferrari gives wealthy buyers an emotive experience centered on the throaty growl of its potent engines. Ferrari needs to make sure its high-net-worth clients and investors are on board as it transitions to electric.
The Italian automaker, whose vehicles start at about 210,000 euros ($219,282.00), may find it difficult to stand out in the crowd of EVs that are all expected to accelerate swiftly.
Meanwhile, Ferrari will present its first-ever sport utility vehicle in September, powered by its gas-guzzling signature 12-cylinder engine.
Ferrari will introduce its first electric model in 2025 as one of 15 new cars between 2023 and 2026, according to Vigna.
Ferrari projects that 5% of sales in 2025 will be made up of entirely electric vehicles, and 40% in 2030. Hybrid vehicle sales should increase from 20% in 2021 to 55% in 2025 before declining to 40% in 2030.
In a new assembly line at its facility in Maranello, Italy, Ferrari, according to Vigna, would build its own electric motors, inverters, and battery modules while outsourcing non-essential components.
Ferrari will not create an operating system for EVs in order to save money. Other automakers, like as Tesla (TSLA.O) and Mercedes (MBGn.DE), contend that proprietary operating systems are essential for running automobiles, controlling wireless upgrades, and gathering information on driver preferences and behaviors.
Vigna warned investors that he would be silly to create a Ferrari operating system. You must concentrate on the tasks for which you are best suited.
Ferrari is researching the next generation of high energy density solid state batteries with four partners in Europe and Asia.
By 2026, Ferrari estimates it will invest 4.4 billion euros while generating core earnings of 2.5–2.7 billion euros. The adjusted core earnings forecast for Ferrari for 2022 is 1.65-1.70 billion euros.
Between 2022 and 2026, the automaker anticipates cumulative free cash flow between 4.6 and 4.9 billion euros.
Ferrari’s financial projections, according to Kepler Cheuvreux analyst Thomas Besson, conveyed a “clear bullish signal,” but he highlighted that officials avoided discussing production quantities.
Besson penned, “But the direction is clear. “Electrification is necessary, but it won’t alter the company’s or its goods’ DNA.”
Ferrari will become carbon neutral but has not yet announced its EV launch.
With the announcement of Ferrari’s second-quarter earnings yesterday, we received yet another peek into the company’s future clean energy plans. Ferrari is keeping the specifics of its EV launch a secret, despite growing interest.
Most people associate Ferrari ($RACE) with its illustrious supercars. There is no mistaking a cherry red Ferrari when you see one go past, but can the brand maintain up with the fast shifting auto market toward EV?
While many manufacturers aim for EV sales of 25 to 50% by 2025, Ferrari is keeping to its schedule for the debut of its completely electric vehicle in that year.
In addition, the corporation has promised to introduce 15 new models between 2023 and 2026, just one of which would be all-electric. Ferrari has thus far stayed true to its origins. With four hybrid vehicles, it has dipped its toes into the “electrification” market:
However, the business believes there is a chance for EVs to capitalize on Ferrari’s distinctive brand to meet client needs.
Later this year, Ferrari will launch its first SUV, and in 2025, it will introduce its first EV.
In order to achieve carbon neutrality by 2030, Ferrari revealed details of its plan to introduce its first electric vehicle by 2025.
Benedetto Vigna, CEO of Ferrari, said at the company’s Capital Markets Day from its Maranello, Italy, headquarters on Thursday that the battery-electric supercar will serve as a benchmark for the company’s future electric vehicles.
By 2026, the Italian luxury automaker stated, hybrid and all-electric cars will account for 60% of its sales. By the end of the decade, it anticipates that percentage to reach 80%.
Ferrari currently offers four hybrid vehicles. 2019 saw the unveiling of the first nameplate, the 1,000-horsepower, $513,000 SF90 Stradale plug-in hybrid, which drew on the company’s background in Formula 1 racing.
Maranello will produce the electric motors and battery modules for its next EVs.
In its ultra-rarefied niche, Ferrari is among the last to introduce an EV. By the end of the decade, Bugatti, Bentley, Lamborghini, Rolls-Royce, Aston Martin, and McLaren intend to produce only electric vehicles.
Maintaining their brand’s distinctiveness while transitioning from a history of large combustion engines to battery packs is an issue that they all encounter. How will they entice consumers? No, range won’t be the case. Most ultra-luxury brands will most likely emphasize the EV’s greater acceleration and environmental prowess in their marketing messages.
According to Ferrari, its own electric vehicle will be distinctive for its size, sound, engine power density, and emotional impact. The 75-year-old company declared that it would continue to uphold its long-standing commitment to exclusivity.
Vigna stated on Thursday, “At Ferrari we always provide one car fewer than the market demands. I can guarantee that nothing will ever alter this.
Strategic agreements that grant access to technologies without adversely affecting Ferrari’s bottom line are how the firm intends to build its EVs. Low-volume automakers like Ferrari find it difficult to justify spending the $1 billion to $2 billion necessary to create a battery-electric model from scratch due to the difficult economics of manufacturing an EV.
Tens of billions of dollars are being invested by major automakers to strengthen their battery-electric portfolios, including Ford and Volkswagen. A number of EV manufacturers that went public by merging with SPACs but haven’t yet made any money are having trouble securing funding in the meantime.
After attempting to develop a commercial EV, Electric Last Mile Solutions revealed on Monday that the company is declaring bankruptcy. As a follow-up to its eagerly anticipated FF 91 sports vehicle, Faraday Future has also issued a warning that it does not currently have enough funds to manufacture the mass-market sedan.
Additionally, Ferrari said on Thursday that its V12-powered Purosangue, the company’s first SUV, will be unveiled in September. Early in the following year, the SUV is anticipated to hit the market, with a starting price of about $300,000.
Due to increased customer demand and large margins, profitability in the SUV market is all but guaranteed. The Lamborghini Urus SUV, the Purosangue’s main rival, quickly overtook it as the brand’s best-selling vehicle. 60% of the portfolio of Maserati, the Ferrari sibling brand owned by Stellantis, is made up of the company’s first-ever SUV.
Ferrari asserted that it would limit Purosangue sales to under 20% of overall sales.
Ferrari Is Switching to Electricity, but This New Patent Shows You Don’t Need to Panic
Simply put, Ferrari has achieved remarkable success. They have a larger market worth than well-known automakers like Hyundai and make a sizable profit on each vehicle they sell. Ferrari is protected by its financial success from having to follow the most recent fad. Four years after Lamborghini began producing the Urus, Ferrari is just now announcing its first SUV, the Purosangue.
Ferrari will only start making their first electric car by 2025, whereas other premium brands have committed to going all electric by the end of the decade. Such a vehicle would represent a considerable change from powerful V8s and V12s. According to a recent Ferrari patent discovered by The Drive, Ferrari lovers shouldn’t worry too much.
The concept illustrations depict a car that closely resembles a Ferrari: a sporty, low-riding two-seater sports car. The patent itself is explicitly labeled “Electric or Hybrid Sports Car.” To simulate a rear-mid engine layout’s weight distribution, a modular battery pack is placed behind the passengers. To provide cooling and more downforce, it would be positioned angling upward toward the rear. Additional battery packs would have placements on the floor as well.
The system shown would function as a hybrid configuration as well, but not in the manner that one might anticipate. The car would retain its centrally positioned battery pack for a hybrid application and tuck an internal combustion engine (likely rather small) into either the back or front compartments.
The stigma associated with electric vehicles is already dissipating far more quickly than Ford and other carmakers had anticipated. Therefore, it is reasonable to assume that a Ferrari powered by batteries won’t present too much of a challenge by 2025. And customers will adore the final product if it has a Ferrari-like design, a prancing horse logo, and is lightning-quick. It will undoubtedly seem odd if Ferrari doesn’t have an electric car by that time, especially with competitors like Lexus entering the electric supercar market. KNOW MORE
Exists a Ferrari electric model?
The SF90 Stradale, which combines a twin-turbo V8 with three electric motors, and the entry-level 296 GTB, which has both its twin-turbo V6 and an electric motor driving the rear axle, are the only plug-in hybrid vehicles produced by Ferrari today.