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June 17, 2022

Electric Ferrari due in 2025 – report

Battery electric vehicles would account for 5% of its sales that year.

By Graeme Roberts

Ferrari would introduce the brand’s first all-electric model in 2025, media reports said.

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TheDetroitBureau.com said the automaker expected battery electric vehicles would account for 5% of its sales in 2025, the year the first BEV comes out. By 2030, that would rise to 40%. Add hybrids and ‘electrified’ vehicles would account for 80% of its volume, company officials told analysts and investors.

“Everything we do will always focus on being distinctively Ferrari,” chairman John Elkann said during opening remarks ata capital markets day event. “The opportunity set of electrification and electronics will allow us to make even more unique cars.”

The report noted Ferrari’s traditional competitors were also shifting to electrified drivetrains. Lamborghini would begin migrating to plug-in hybrids in 2023, with at least three, possibly four, BEVs in its line-up by decade’s end.

Ferrari itself used a race-derived HY-KERS hybrid system in its La Ferrari hypercar and a plug-in hybrid system powers the new SF90 Stradale. But it won’t have a pure electric offering ready until 2025.

“We believe we can use the electric engine to enhance the performance of our cars,” CEO Benedetto Vigna said, while maintaining attributes that Ferrari customers crave.

According to TheDetroitBureau.com, Vigna said the company was rethinking the way it approaches things due to the changing nature of the market place. If anything, Ferrari expects the mix of new electric vehicles to help boost demand for, and earnings from, its conventional product mix. It also sees significant opportunities for its first-ever SUV, the Purosangue model debuting in September.

Officials forecast adjusted EBITDA would grow to EUR2.7 billion in 2026, up from EUR1.5 billion in 2021.

The switch to electric will, nonetheless, be costly, at an estimated EUR4.4 billion, or US$4.6 billion, through 2026. By then, it expects BEVs and PHEVs to account for 60% of its model line-up.

To handle production of the newly electrified models, Ferrari is expected to add a third production line alongside its current operations in Maranello, Italy, the report said.

It added Ferrari would seek partners to help in its push to electrify. The automaker “would be foolish” to develop its own EV operating system, for one thing, Vigna said. “You have to focus on areas where you can be the best.”

“The direction is clear,” Kepler Cheuvreux analyst Thomas Besson reportedly wrote in a report on the Ferrari strategy. “Electrification is required but will not change the DNA of the company and its products.”

Free Report
img

What does the future hold for the US electric vehicles market?

The US Electric Vehicles (EV) market has established itself as one to watch. Despite China maintaining the number one spot, the US holds significant standing as one of the major EV markets, with GlobalData’s whitepaper identifying a strong growth trajectory within the forecast period. This report further analyzes the trends, market drivers, and government incentives set to influence and facilitate the market.   This report also looks beyond the US and touches on environmental concerns set to drive the EV market worldwide.   Want to find out more? This report demonstrates GlobalData Explorer’s sector analysis capabilities, showing how you can:  
  • Get historical and forecast market sizing data, with country specific insight for 22+ of the world’s largest industries
  • Track sector dealmaking activity, to view aggregate volumes, specific deals and top investors for all major deal types in M&A, Capital Raising, and Partnerships
  • Analyze news from GlobalData Explorer’s News Database – enable screening and alerts by industry, company, geography and news sentiment for filtered insight
  • Identify and track the key disruptive trends that are keeping the top digital thought leaders talking through social media analytics
  Consult this report now to find out how you and your company can benefit from our Explorer platform.
by GlobalData
Enter your details here to receive your free Report.

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