Italian supercar manufacturer Ferrari will unveil its first all-electric vehicle on October 9. ANSA reported that Ferrari CEO Benedetto Vigna announced this news during a conference call following the company’s recent earnings report on February 4.
The upcoming electric vehicle (EV) is one of six new models Ferrari plans to launch this year. This move marks Ferrari’s bold entry into the EV market following its introduction of hybrid models in 2019.
Vigna emphasized that the company is not merely transitioning to electric vehicles but is expanding its lineup to include them. This approach suggests a coexistence strategy between internal combustion engine models and EVs.
Ferrari reported a net profit of €1.53 billion (approximately $1.63 billion) last year, marking a 21% increase from the previous year. This performance improvement was due to a strategy aimed at increasing profitability, even though vehicle deliveries only saw a modest increase of 89 units year over year, totaling 13,752 units. Vigna noted that customers who owned two or more Ferraris accounted for 48% of the vehicles delivered last year, with 81% sold to existing customers.
The regional sales data show that the European, Middle East, and African markets remained robust, with 6,204 deliveries. The U.S. market grew by 5%, delivering 4,003 units. The Asia-Pacific region (excluding China) saw a 4% increase with 2,383 deliveries. However, the Greater China market (encompassing China, Hong Kong, and Taiwan) experienced a significant 22% decline, with deliveries dropping to 1,162 units.
Ferrari is introducing EVs to maintain its brand identity while continuing technological innovation. The focus is on how the first electric car, unveiled in October, will set itself apart from current supercars.
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