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Automotive Industry
Ferrari aims to complete its new production facility in Maranello in mid-2024, which will manufacture electric supercars as well as next-generation powertrains.
According to Ferrari boss Benedetto Vigna, the so-called E-building will have assembly lines with the flexibility to produce both electric and combustion cars. The site will be “ready in June 2024”, two years after construction began.
The first all-electric Ferrari is expected to be unveiled in the fourth quarter of 2025. As reported, the Italian automobile manufacturer wants to electrify more than half of its models by 2026. By 2030, 80% are to be electrified – 40% purely electric and 40% partially electric.
Ferrari has been quite slow to adapt to the electric vehicle market, compared to competitors such as Porsche, who released its first electric vehicle with the Taycan in 2019, and was lauded as being “outdated” and the German automobile industry was described as being behind the curve in technology development. However, it bears mentioning that Porsche has the automotive giant Volkswagen as a parent company, while Ferrari remains on its own. Ferrari had also presented a plug-in hybrid of its own in 2019, but has flagged with developing new vehicle models since. The Italian government had even gone so far as to petition the EU to exempt Ferrari and Lamborghini from emissions regulations.
In response to such allegations, Ferrari CEO Benedetto Vigna rejected that Ferrari was a laggard on electrification and doesn’t expect any margin reduction with new EV models in an interview with Bloomberg.