Ferrari to shift to electrification

Arathi Nair
Arathi Nair June 21, 2022
Updated 2022/06/21 at 8:53 PM

Ferrari and its competitors sell wealthy buyers an emotive experience focused on the sound of that strong engine. Ferrari said that electric and hybrid models will account for 80% of its sales by 2030, and that it will build “ever more unique” cars as it makes the costly transition to zero-emission driving.

Chief Executive Benedetto Vigna revealed the company’s long-awaited new business plan, saying, “We believe we can employ the electric engine to enhance the performance of our cars.” Ferrari’s challenge, like that of other sports carmakers, extends beyond the massive capital investments required to develop electric models that can match the high performance of their fossil-fuel predecessors — today’s electric vehicle (EV) batteries are incapable of delivering the sustained power of a combustion engine sports car.

A result, as Ferrari transitions to electric, it needs ensure that its high-net-worth clients are protected. ” The electrification and electronics potential set will allow us to create even more unique cars.”

Meanwhile, Ferrari has announced that it will reveal its first ever sport-utility vehicle in September, powered by its massive, gas-guzzling signature 12-cylinder engine. Vigna reaffirmed Ferrari’s plans to debut its first electric vehicle in 2025, and the company indicated it would introduce 15 new models between 2023 and 2026.

Fully electric vehicles are expected to account for 5% of sales in 2025 and 40% in 2030, according to Vigna. Hybrid cars should account for 55% of sales in 2025, up from 20% in 2021, before falling to 40% in 2030.

Ferrari will develop and manufacture its own electric motors, inverters, and battery modules for its electric vehicles on a new assembly line at its Maranello, Italy, plant, while outsourcing non-core components to partners, according to Vigna.

He stated that the automaker is collaborating with battery manufacturers to develop the next generation of solid-state batteries for its electric vehicles, which might store more energy than current batteries.

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