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Ferrari says 80% of its models will be electric or hybrid by 2030

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Agence France-Presse

<p>MARANELLO, Italy - Ferrari unveiled Thursday plans to turn 80 percent of its production into all-electric or hybrid cars by 2030 in a major shift for an iconic brand renowned for its powerful combustion engines.</p><p>&quot;Electrification is a way to improve performance,&quot; new chief executive Benedetto Vigna said as he unveiled a four-year strategic plan at the brand&#x27;s historic Maranello site in northern Italy.</p><blockquote class="twitter-tweet"><p dir="ltr" lang="en">Ferrari’s Capital Markets Day drew to a close today, as stakeholders were presented with a strategic plan for our future and the actions we intend to take: the focus was on employees, electrification, and carbon neutrality by 2030.<a href="https://twitter.com/hashtag/FerrariMagazine?src=hash&amp;ref_src=twsrc%5Etfw">#FerrariMagazine</a> <a href="https://twitter.com/hashtag/Ferrari?src=hash&amp;ref_src=twsrc%5Etfw">#Ferrari</a></p>— Ferrari (@Ferrari) <a href="https://twitter.com/Ferrari/status/1537394707843670016?ref_src=twsrc%5Etfw">June 16, 2022</a></blockquote><p><script async="" src="https://platform.twitter.com/widgets.js" charSet="utf-8" type="text/javascript"></script>The 2022-2026 plan will be driven by the launch of new products -- including Ferrari&#x27;s first 100 percent electric car, set to be presented in 2025.</p><p>&quot;Ferrari&#x27;s first all-electric car will be 100 percent a sports car,&quot; commercial director Enrico Galliera told AFP.</p><p>&quot;We will develop an electric car that will deliver the same emotions as when you drive a (traditional) Ferrari,&quot; he pledged, without revealing any technical details.</p><ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/business/02/03/21/ferrari-vows-to-roar-back-in-2021">Ferrari vows to roar back in 2021</a></li>	<li><a href="https://news.abs-cbn.com/overseas/08/10/20/supercars-and-champagne-bangkoks-rich-purr-through-pandemic">Supercars and champagne: Bangkok&#x27;s rich purr through pandemic</a></li></ul><p>The Italian luxury carmaker plans to expand the Maranello plant and create a third production line for hybrid and electric vehicles.</p><ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/ancx/drive/cars-and-bikes/06/06/19/named-after-an-italian-resort-town-the-ferrari-portofino-is-la-bella-vita">Named after an Italian resort town, the Ferrari Portofino is la bella vita</a></li>	<li><a href="https://news.abs-cbn.com/ancx/drive/cars-and-bikes/04/26/19/muse-of-muscle">The Shelby Cobra: How a humbly-built car once beat Ferrari and became a legend</a></li>	<li><a href="https://news.abs-cbn.com/ancx/drive/cars-and-bikes/11/11/18/design-deception-and-domination">One of the rarest and most desirable Ferraris</a></li></ul><p>Under the plan, some 60 percent of its production would be all-electric or hybrid models by 2026, rising to 80 percent by 2030.</p><p>Other upcoming new products include Ferrari&#x27;s first SUV, &quot;Purosangue&quot; (Thoroughbred), which will be unveiled in September, with deliveries from 2023.</p><p>Including the all-electric offer, another 15 new launches are expected between 2023 and 2026, Vigna said.</p><p>Ferrari, which celebrates its 75th anniversary this year, broke results records in 2021, delivering 11,155 cars -- up 22.3 percent -- and generating revenue of 4.3 billion euros (up 23.4 percent).</p><p>It said Thursday it was setting an ambitious target for revenues. The 6.7-billion-euro ($7-billion) goal for 2026 is well above this year&#x27;s estimated revenue of around 4.8 billion euros. </p><p>Vigna did not give many details of the new Purosangue, other than that it will be a sports car and will have a V12 engine, a trademark of the mythical brand.</p><p>But he said: &quot;I am confident it will exceed all expectations.&quot;</p><p>He emphasized its exclusivity, saying it would make up on average fewer than 20 percent of total deliveries.</p><p>Under the previous strategic plan unveiled in 2018, Ferrari had also promised the launch of 15 cars -- a target Vigna said had been reached.</p><p>bh-ar/ide/lth</p><div><strong>© Agence France-Presse</strong></div><figure class="op-interactive"><iframe height="315" src="https://www.youtube.com/embed/rrLSofR3LBU?enablejsapi=1" width="560"></iframe></figure><div class="iwantbar">Watch more News on <a href="https://www.iwanttfc.com/#!/browse/Genres/News/tag_id_genres/id_news" target="_blank">iWantTFC</a></div>

Ferrari unveiled Thursday plans to turn 80 percent of its production into all-electric or hybrid cars by 2030 in a major shift for an iconic brand renowned for its powerful combustion engines.