Ferrari wants six out of ten cars made by the sports car manufacturer to be electric or semi-electric in four years’ time. To make that possible invests the Italian company 4.4 billion euros in further development of electric models.
Ferrari has “all the skills and all the capital” for the transition to a largely electric and hybrid fleet, chief executive Benedetto Vigna said on Thursday on the luxury car brand’s investor day.
The company is investing heavily in the expansion of the factory in Maranello, so that batteries and plug-in cars can also be made there. It was previously announced that Ferrari will unveil the first fully electric sports car in 2025.
The producer initially reacted slowly to the shift to electric driving. Cars of the brand are still mainly known for the 12-cylinder combustion engines. Vigna was recruited a year ago to accelerate the switch. He joined from chip company STMicro, where he headed the division that supplies sensors for the automotive industry and Apple’s iPhones.
The Italian manufacturer joins the plans with many other car manufacturers, who have also unveiled plans in recent years to make many more electric cars.
Several companies also came up with a plan to stop using fossil fuel cars within a few years. The Italians are not going that far at the moment. “The development of the internal combustion engine, an essential part of our business, continues,” the CEO said in a statement. The company does indicate that it wants to be CO2 neutral by 2030.
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