Ferrari CEO Benedetto Vigna stated that the company is "on the right track" to unveil its first high-performance electric car during the last quarter of 2025. Vigna mentioned that Ferrari will rely on unconventional partners to develop the electric vehicle, without disclosing further details, according to Bloomberg.
In June, a source familiar with the matter told Reuters that the price of Ferrari's first electric car would not be less than 500,000 euros ($535,000), as the luxury car manufacturer prepares to open a factory to produce this model, which could increase the company's production by a third.
The Italian company, renowned for its gasoline-powered engines, announced that it will launch an electric car at the end of next year. The set price reveals Ferrari's confidence that wealthy buyers are ready for it, even as competitors in the market are cutting the prices of electric cars due to weak demand.
Ferrari’s Investment in Electric Vehicles
Ferrari is one of the leading manufacturers of high-performance luxury cars and has been renowned for decades for its powerful gasoline engines and exceptional performance. However, the Italian company has begun to take serious steps toward investing in electric vehicle technology, marking a significant shift in its strategy amid the major changes occurring in the global automotive industry.
The Shift Toward Electric Vehicles
Ferrari announced that it plans to unveil its first fully electric vehicle in the last quarter of 2025. This move comes in response to global efforts to reduce carbon emissions and transition to clean energy, forming part of the company’s strategy to adapt to market changes while maintaining its core values of performance and luxury. Although Ferrari has been slower to enter the electric vehicle market compared to some of its competitors, it aims to strike a balance between modern technology and its rich heritage in sports car manufacturing.
Ferrari is one of the most prominent and renowned manufacturers of luxury sports cars in the world. It was founded in 1939 by Enzo Ferrari in the city of Maranello, Italy, and began producing its first cars in 1947. Ferrari has been famous from the start for its cars that combine powerful sports performance with luxury, making it a symbol of elegance and excellence in the automotive world.
Ferrari's Beginnings
Ferrari started as a supplier of race cars for the "Alfa Romeo" team before splitting off to become an independent company. Ferrari quickly made its mark by entering the world of Formula 1 racing and is now one of the most successful teams in Formula 1 history, having achieved numerous victories and championships.
Expansion and Commercial Production
Despite its beginnings as a producer of race cars, Ferrari began producing high-performance sports cars for public roads. These cars were targeted at the elite, known for their unique design and powerful engines, making them highly sought after around the world.
Ferrari is also known for using cutting-edge technology in car manufacturing, particularly in performance and handling. The company continuously works on improving its aerodynamics and mechanical systems to provide an exceptional driving experience. Ferrari is also focused on developing hybrid engines and new electric technologies as part of its efforts to adapt to the shift towards environmentally friendly cars.
Ferrari’s Vision for the Future
Ferrari’s move towards electric vehicles is part of a broader vision to maintain its leading position in the luxury sports car industry while adapting to global sustainability trends. With increasing environmental regulations worldwide, Ferrari understands that the shift to electric vehicles is not a choice but a necessity. The company aims to provide a driving experience that combines exceptional performance with technological innovation, while preserving the traits that have made Ferrari a symbol in the automotive world.
Ferrari’s investment in electric vehicles represents a major turning point in the company’s history. While high performance and luxury remain the brand’s core identity, Ferrari seeks to integrate these values with sustainable technology. This investment is expected to play a pivotal role in the company’s future, ensuring Ferrari remains at the forefront of the luxury car industry in the era of clean energy.