Ferrari expects electric and hybrid models to account for 80% of its sales by 2030, according to comments made by CEO Benedetto Vigna on Thursday.
The Italian automaker has set targets for fully electric cars, hoping to have them make up 5% of sales in 2025 and 40% in 2030. Hybrids will be their focus in the short-term accounting for 55% of sales by 2025 before dropping to 40% by 2030.
The company will develop its own electric motors, inverters, and battery modules in-house at a new facility in Maranello, which we reported on earlier this week. Non-core components will be outsourced to third parties.
Vinga said he believes electrification can benefit Ferrari, a company which is as famous for its throaty 12-cylinder engines as it is for its exotic designs.
“We believe we can use the electric engine to enhance the performance of our cars,” Vigna said (via CNBC)
Ferrari enthusiasts might be worried with the news, but company chairman John Elkann said the shift to electrification will help them make “even more unique cars” that will be “distinctively Ferrari.”
It will still be a few years until we see a fully electric Ferrari. Vinga said the Italian automaker plans to launch their first EV in 2025.
The company plans to launch 15 new models between 2023 and 2026, including their first ever SUV that will be unveiled in September, but it will still feature a gas-guzzling 12-cylinder engine.