Ferrari , the iconic Italian car brand, is gearing up to unveil its first electric supercar by the end of 2025. The company's CEO, Benedetto Vigna, shared this exciting news at the recent Italian Tech Week in Turin . He also mentioned that Ferrari is "fully on track" with this ambitious project, and will be teaming up with some "unusual partners" to make it happen.
Electric transition amid market challenges The launch of Ferrari's electric supercar comes at a time when the luxury car industry is trying to reduce emissions, even as demand for electric vehicles (EVs) seems to be slowing down. This move toward cleaner models is made even trickier by China 's hold on battery cell production. Vigna, who used to work at chipmaker STMicroelectronics NV, has been key in pushing Ferrari toward electrification since he joined in 2021.
Ferrari's cautious approach to electrification Despite entering the EV game a bit late, Ferrari's cautious approach might just pay off. With electric vehicle sales slowing down in Europe , automakers like Stellantis NV and Volkswagen AG are either scaling back or shifting gears with their battery projects. On the other hand, Mercedes-Benz Group AG has committed to selling traditional cars for a longer stretch than they initially thought.
Balancing act: Catering to young and old clients Ferrari's shift toward electric models is a bit of a tightrope walk. On one hand, younger folks are really warming up to electric cars , but on the flip side, many of the b.