After Ferrari announced plans to add an electric vehicle production line at its Maranello, Italy plant, the luxury automaker has doubled down on its electrification-focused business model with a new business plan.
Ferrari said to investors it plans to electrify 80 percent of its lineup with hybrids and full EVs by 2030, according to Automotive News.
Additionally, CEO Benedetto Vigna said to Italian supercar company would launch its first fully-electric vehicle in 2025, with 15 new models set to launch between 2023 and 2026.
The remarks were made at a capital markets day event as the CEO revealed a brand new business plan for Ferrari, long-awaited by investors.
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In the opening statement for the event, Chairman John Elkann said, “Everything we do will always focus on being distinctively Ferrari.” Elkann continued, “The opportunity set of electrification and electronics will allow us to make even more unique cars.”
By 2025, Ferrari estimates fully-electric vehicles will account for five percent of its sales, rising to 40 percent by 2030.
Hybrid vehicles are expected to rise to 55 percent of sales in 2025 from just 20 percent in 2021, and prior to dropping off to 40 percent by 2030.
Last year, then-acting CEO Elkann said that Ferrari viewed electrification as an opportunity, rather than a threat, in keeping with the European Union’s 2035 new gas car sales ban.