Ferrari to electrify 80 per cent of its range by 2030

Shares in Ferrari NV dropped by 1.6 per cent yesterday on news that the iconic Italian supercar maker will build its first fully electric sports car in 2025.

Ferrari also admitted yesterday that the traditional screaming thunder of its supercars will give way to 40 per cent of all production being pure EVs by 2030.

Ferrari’s new strategic 2022-2026 plan, released in Maranello yesterday, showed it will launch 15 new models in the next four years, starting with the Purosangue hybrid SUV in September this year.

The new product cycle will have a halo model, with Ferrari scheduling a replacement for the LaFerrari hypercar “coming soon”, according to CEO Benedetto Vigna.

"The full electric Ferrari will be a real Ferrari," Vigna said, adding that it 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 hybrid and fully electric by 2026, just four years from now.

Today, that mix is 80 per cent pure combustion power, with just 20 per cent 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 bucked electrification 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 yesterday.

“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.”

Ferrari also confirmed that hybrids would be the highest volume Ferraris by 2026, with 55 per cent 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 per cent  EVs and 40 per cent hybrids, with just 20 per cent of Ferraris running pure combustion engines.

The only plug-in hybrid cars on Ferrari’s books today are 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, which is famed for its Formula 1 team as well as its Le Mans GTE and GT3 sportscar programs, insists its hybrids will benefit from the technology transfer from motorsport.

Current F1 cars are all hybrids under the FIA rules, while Ferrari is also building a hybrid hypercar to compete at the Le Mans 24 Hour race in 2024.

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 Purosangues [“thoroughbred” in Italian] 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 to chase autonomy any more than it already had.

"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 per cet 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 €1.5b last year to between €2.5b and €2.7b this year.

Its profit margin target is also rising, up from 35 per cent last year to up to 40 per cent this year.

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