Ferrari CEO Benedetto Vigna promised that the company’s upcoming electric vehicles will provide the same engine roar as their gasoline engines.
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Ferrari plans to launch its first all-electric car in the last quarter of 2025 and will open a new production site in Maranello, Italy, in June dedicated to making electric motors, battery packs and power inverters.
Ferrari predicts that around 60% of its sales will come from pure electric and hybrid cars by 2026, as it aims to carve out market share with a range of high-performance electric supercars.
Wigner told CNBC’s “Squawk Box Europe” on Tuesday that the company will continue to focus on performance, design and driving experience in its electric vehicle lineup, insisting that “electric vehicles are not completely silent.”
He said: “When we talk about luxury cars like Ferrari, we’re talking about the emotion that can be conveyed to the customer, so we’re not just making a functional electric car, unlike other electric cars you see on the road. We honestly have no doubt that we can deliver a unique experience to our customers because we can leverage technology in unique ways. That’s what our company has been doing from the beginning.”
Although a typical electric drivetrain is almost silent, Ferrari engineers are developing “sound signatures” for its electric cars to replicate the signature roar of the gas engines that have powered its sports cars since 1947.
Ferrari shares are off to a strong start in 2024, with shares up nearly 29% so far and a 59% surge last year. The company hit its highest revenue in history last year, with annual net profit increasing 34% and exceeding 1 billion euros for the first time (Note: currently about 7.84 billion RMB).
