Ferrari’s first electric supercar will be out next year

Ferrari CEO Benedetto Vigna promised on Tuesday that the company’s upcoming electric vehicles will provide the same engine roar as a gasoline engine.

 

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 to manufacture electric motors, battery packs and power inverters.

Ferrari predicts that by 2026, about 60% of its sales will come from pure electric and hybrid vehicles, aiming to carve out market share with a series 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’s stock price has had a good start at the beginning of 2024. So far, its stock price has risen by nearly 29%, and it soared by 59% last year. The company achieved its highest revenue in history last year, with annual net profit increasing by 34%, exceeding 1 billion euros for the first time.