For years, Ferrari kept its focus on gas-guzzlers and hybrid vehicles, even as its rivals shifted into high gear with electric vehicles, launching several e-cars along the way.
The luxury sports carmaker is finally accelerating into an electrifying future with the launch of its first fully electric car on October 9. The move was announced during Ferrari’s shareholder meeting on Wednesday.
While details of the all-electric Ferrari remain under wraps, the luxury automaker has said that the new EV will stay true to Ferrari’s legacy of speed, design, and emotion.
The e-car will be revealed during the company’s capital markets day at its iconic Maranello headquarters.
Legacy meets electric future
Chairman John Elkann said that the iconic brand had been prepping up for years to step into the electric arena.
“Electrification has been a path that we’ve been pursuing now for decades, starting in Formula One and then from our race cars to our sports cars,” Elkann said.
“We are very excited about unveiling the Ferrari Elettrica (electric)”.
Known globally for its roaring petrol engines, the luxury sports carmaker began selling hybrid models in 2019. The variant made up 51 percent of Ferrari’s car sales last year.
In Formula One, hybrid powertrains were introduced in 2014, while “KERS” systems to recover kinetic energy during braking have been in use since 2009.
Ferrari, however, reaffirmed its plans to continue producing petrol cars alongside its push for hybrid and electric vehicles, despite worldwide call for carmakers to adopt greener practices.
“Indeed, in line with our strategy, we continue to invest in all three powertrains … to offer our clients maximum freedom of choice,” Elkann said.
The brand is known for its petrol engines, but as the world focuses on reaching net-zero emissions, Ferrari has been forced to adapt.
Elkann also emphasized that Ferrari is committed to maintaining “complete control” over key components of its sports cars.
He mentioned that the facility Ferrari inaugurated in June in its hometown of Maranello, known as the “e-building,” would provide the company with increased manufacturing flexibility to develop its future models. The ‘E’ in E-building stands for “energy, evolution, and environment.”
“Now, we can also claim that all our key electric components are developed and handcrafted in Maranello,” Elkann said.
Precision crafted in Maranello
Although Ferrari is a late entrant to the electric vehicle market compared to competitors like Porsche and Tesla, the company maintains that its approach is intentional.
“This car will be 100% Ferrari,” Vigna stated earlier this year.
“We are not rushing. We are redefining performance for the electric era.”
Experts believe the upcoming launch will be a pivotal moment for ultra-luxury automakers, many of whom have faced challenges in blending tradition with modern technologies.
Ferrari has already pledged that 40% of its lineup, including hybrids, will be electrified by 2030.
The electric Ferrari will be one of the six new models the company plans to introduce this year and is estimated to cost at least £420,000.
