Ferrari will unveil its first fully electric vehicle in October, Chairman John Elkann said on Wednesday, marking a key milestone in the luxury carmaker’s long-term transition towards electrification.
Speaking at Ferrari’s annual shareholders’ meeting, Elkann said the company had been laying the groundwork for electric vehicles for years, building on its experience with Formula One and high-performance sports cars. “Electrification has been a path that we’ve been pursuing now for decades, starting in Formula One and then from our race cars to our sports cars,” he said.
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Ferrari introduced hybrid models in 2019 and plans to reveal its first electric car during a capital markets day scheduled for October 9. The vehicle, which Elkann referred to as the “Ferrari Elettrica,” will represent a new chapter for a brand best known for its petrol-powered engines.
In Formula One, hybrid technology has been used since 2014, while Ferrari began experimenting with energy recovery systems such as KERS in 2009. Elkann emphasized the importance of maintaining in-house expertise, highlighting that Ferrari’s recently opened “e-building” facility in Maranello, Italy, enhances the company’s manufacturing flexibility and control over key electric components.
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“Now, we can also claim that all our key electric components are developed and handcrafted in Maranello,” Elkann said.
Ferrari CEO Benedetto Vigna reiterated the brand’s commitment to offering a full range of powertrain options, including petrol, hybrid, and electric. “Indeed, in line with our strategy, we continue to invest in all three powertrains … to offer our clients maximum freedom of choice,” he said.
Hybrid vehicles accounted for 51% of Ferrari’s total car sales in 2023.
