Italian supercar maker
Ferrari will build its first electric (EV) sportscar by 2025, it was revealed today at its annual investor conference.
It also admitted that the traditional screaming thunder of its supercars will give way to 40% of all production being pure EVs, and 80% electrified, by 2030.
Shares in the Ferrari N.V. were down 0.7% today despite news that the iconic Italian supercar maker is planning to be carbon neutral by 2030.
Ferrari’s strategic 2022-2026 business plan, released its in Maranello today, revealed a model deluge is on the way, with 15 new models planned for the next four years, starting with the Purosangue hybrid SUV in September this year.
A new halo model has also been confirmed, with Ferrari scheduling a replacement for the LaFerrari hypercar “coming soon”, according to CEO Benedetto Vigna.
It be the latest in a long line of sporadic hypercar Ferraris that started with the 288 GTO
“The full electric Ferrari will be a real Ferrari,” Vigna insisted, and he also confirmed the EV Ferrari will be designed, produced and assembled in Maranello at the company’s new E-Building.
The E-Building will be home to the manufacture of the electric motor, the inverter and the battery module as well as an assembly line. It also houses its own paint shop.
Ferrari also confirmed that three out of every five cars it builds will be either hybrid or fully electric by 2026, just four years from now.
Today, that mix is 80% pure combustion power, with just 20% split between the SF90 Stradale and the 296 GTB, but that has to rise with Ferrari planning to become carbon-neutral by 2030.
The Maranello-based Ferrari also bucked modern trends by confirming it continue to develop combustion engines, even as it delivers hybrids and EVs.
“I believe the internal combustion engine has a lot to give,” Vigna told investors today.
“On one side, we have to cope with emissions regulations, but most importantly we see electrification as a way, as a technology, that can enhance the performance of what we do.”
It confirmed, too, that hybrids would be the highest volume Ferraris by 2026, with 55% of all sales. That will be followed by pure combustion powered cars (40%) and EVs (5%).
By 2030, though, that split will change to 40% EVs and 40% hybrids, with just 20% of Ferraris running pure combustion engines.
Ferrari has only plug-in hybrid cars today: the SF90 Stradale, which marries a twin-turbo V8 with three electric motors, and the entry-level 296 GTB, which has both its twin-turbo V6 and an electric motor driving the rear axle.
Ferrari is famed for its Formula One history as well as its Le Mans GTE and GT3 sportscar programs, and it insists its hybrids will benefit from the technology transfer from motorsport.
Vigna insisted the first EV Ferrari would be unique in a burgeoning world of performance EVs, and would leverage Ferrari’s racing history and know-how to deliver power density, weight, sound and driving emotions no other maker could replicate.
Its batteries will be hand-assembled in Maranello, and the modules will be integrated into the chassis of its cars in a way to reduce weight and increase performance, so forget skateboard architectures at Ferrari.
While Ferrari is hazy on how many Purosangue (“thoroughbred” in Italian) models it will sell, Vigna insisted it would always build at least one car fewer than demand.
Even with its higher volume Purosangue model, though, Ferrari insisted it had no intention of chasing autonomy any more than it already had, which is none at all.
“We are not a mobility company and when mobility is increasingly shared, having a Ferrari will be even more unique,” Vigna said, adding that company had “no interest” in Level 4 or 5 self-driving technology.
The company continues to grow, Vigna insisted, so it has raised its dividend payout from 30% to 35% of adjusted net income this year, while it plans to repurchase €2 billion in shares between now and the end of the strategic plan.
The financial side of Ferrari continues to be very healthy, with Vigna insisting its earnings would increase €1.5bn last year to between €2.5bn and €2.7bn this year.
Its profit margin target is also rising, up from 35% last year to up to 40% this year.