As Ferrari looks to get into electric vehicles (EVs), the automaker is creating a new production line at one of its production plants to begin moving in that direction.
Ferrari plans to add an EV production line to its Maranello, Italy plant, set to make both hybrid and battery-electric vehicles, according to sources speaking with Bloomberg.
The EV production line will mark the third overall line at the Northern Italy plant, with the company’s updated electrification plans set to be unveiled during an upcoming briefing set for next week, say sources.
In addition to the production line, the automaker will likely add a new battery R&D center, say sources. This was previously highlighted by Ferrari CEO Benedetto Vigna at the June 16 capital markets day event.
In a note dated May 30, Jefferies analysts wrote, that the event was “an opportunity to reclaim leadership and better understand why John Elkann appointed outsider Benedetto Vigna, to ‘reinvent’ Ferrari.” The note also added that “Ferrari has looked a bit less exceptional in recent years, with returns coming off peaks and competitors raising their game.”
Then-Ferrari CEO Louis Camilleri also said in 2020 the automaker had no plans for an all-electric lineup, though the past two years and the growing EV market may have altered those plans.
Back in September, Ferrari announced it had teamed up with Apple’s former design chief, Jony Ive, to design an electric car. The Italian automaker previously said it plans to have an electric car by 2025.
