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Ferrari unveils Elettrica, but reduces 2030 goals for electrification

Ferrari unveiled the technology behind the first electric car it has produced, but announced on Thursday that hybrid and petrol vehicles will continue to be at the core of its line-up until 2030.

Elettrica will be the name of the electric car that goes on sale in 2019. Ferrari unveiled the production-ready chassis of the Elettrica at an event held in its Maranello headquarters, located in northern Italy. The car base is equipped with a battery pack, electric motors and outer shell, but no wheels or exterior shell.

The reveal of Ferrari's first electric car is a major milestone in the automotive industry, which is struggling to transition from internal combustion engines to electric batteries.

Ferrari has also adopted a more conservative approach to electric vehicles. The company now aims to have a lineup of 2030 cars that includes 40% internal combustion engines (ICE), 40% hybrids, and 20% fully electric. This is a departure from the 2022 plan which had aimed for 40% EVs in 2030, 40% hybrids, and 20% ICEs.

FOUR NEW MODELS PLANNED EACH YEAR

Ferrari announced that it would release an average of four models per year from 2026 to 2030. This will maintain the steady pace which has helped it attract the attention of its wealthy customers and grow its client base.

John Elkann, Ferrari Chairman, said: "With the new Ferrari Elettrica we affirm once again our commitment to progress, by uniting technology, creativity in design, and the art of manufacturing."

Elettrica is a new hybrid model that complements Ferrari's existing petrol models and the more recent hybrids. Ferrari said that all strategic EV components, including high-voltage batteries, eaxles, and inverters, are developed and manufactured in-house in its new "e-building", or Maranello facility.

Sources said earlier this year Ferrari did not plan to release a second EV until 2028. They cited a weak demand for high performance electric luxury cars.

NEW LIFESTYLE SHOPS TO OPEN

Ferrari's active customer base has increased by about 20% since 2022 and now stands at 90,000. In order to increase engagement, the company plans to open "Tailor Made Centres" in Tokyo and Los Angeles by 2027. These centres will help customers add their own personal touches to vehicles.

It has reaffirmed the expansion of its lifestyle strategy, with flagships planned for London and New York by 2026. This will provide a wider range of luxury products and experiences to both brand owners and fans.

(source: Reuters)