Iconic Italian luxury car manufacturer Ferrari marked its entry into the electric era on Friday with the inauguration of a cutting-edge assembly site at its historic headquarters in Maranello.
This state-of-the-art facility will be the birthplace of Ferrari’s future models, including its highly anticipated all-electric sports car expected before the end of 2025.
Balancing Tradition and Innovation
While staying true to its legendary brand DNA that captivates automotive enthusiasts worldwide, Ferrari is preparing to make the significant leap towards a fully electric model.
This represents a considerable challenge for the Prancing Horse brand, renowned for its powerful and roaring combustion engines.
The new “e-building,” spanning 4.2 hectares and located north of the Ferrari campus, aims to enhance the company’s production flexibility and align with its strategy of prioritizing product quality over quantity.
The facility will accommodate the production of traditional internal combustion engines, hybrid engines, and the new electric motors, all designed to deliver the signature Ferrari driving experience.
Excitement for the Electric Future
Ferrari Chairman John Elkann, who has already test-driven the upcoming electric car, expressed his enthusiasm, describing it as “incredible in every way” and promising “thrills and excitement” for future drivers.
Addressing concerns about the iconic roar of Ferrari engines, Elkann assured that “there will be a sound” to the electric model, although he did not divulge further details.
The new site will also manufacture strategic electrical components such as high-voltage batteries, electric axles, and electric motors. The building, set to be operational within weeks, is partially powered by over 3,000 solar panels with a capacity of 1.3 megawatts installed on the roof.
Ferrari aims to achieve full renewable energy powering of the facility by the end of the year.
Strategic Shift Towards Electrification
Ferrari CEO Benedetto Vigna, an electronics chip expert who took the helm in September 2022, previously announced that fully electric and hybrid models will account for 60% of the company’s production by 2026 and 80% by 2030, as outlined in the 2022-2026 strategic plan.
Ferrari aims to achieve a turnover of 6.7 billion euros in 2026, surpassing the 5.9 billion euros recorded in 2023.
This target will be pursued through the launch of fifteen new models between 2023 and 2026. In the past year, Ferrari unveiled three road models (Roma Spider, SF90 XX Stradale, and Spider) and two track models (296 Challenge and 499P Modificata).
Racing Success and Future Endeavors
In 2023, Ferrari shattered records with profits exceeding one billion euros for the first time. On the racing front, Ferrari made a triumphant return to the 24 Hours of Le Mans last year after a 50-year hiatus, securing victory and ending Toyota’s five-year dominance.
The Italian manufacturer repeated this feat with another win at Le Mans this past Sunday, following an intense battle with Porsche, Toyota, and Cadillac.
In February, Ferrari announced the arrival of seven-time Formula 1 world champion Lewis Hamilton in 2025. Hamilton will join the legendary Italian team after twelve seasons with Mercedes.