Ferrari launches EV model in 2025

Photo: AP

Italy’ popular sports carmaker announced plans to join the global low carbon trend by introducing its own all-electric model, ANSA reported. The company’s chairman John Elkann told reporters that the carmaker will have a fully electric car by 2025. “We are continuing to execute our electrification strategy in a highly disciplined way,” Elkann said. “Our interpretation and application of these technologies both in motorsport and in road cars is a huge opportunity to bring the uniqueness and passion of Ferrari to new generations.”

However he confirmed that three new conventionally powered Ferrari models will be launched this year. He added: “You can be sure this will be everything you dream the engineers and designers at Maranello can imagine for such a landmark in our history.” He added that 2022 will also be a year of important new product launches and particularly Ferrari's first SUV- the Purosangue. Ferrari sold 9119 cars in 2020, which was around 10% down on the previous year.

Ferrari shareholders approved a 2020 balance sheet showing net revenues of 3.46 billion euros, 8.1% down on the previous year. Elkann also said Ferrari is making progress in its search for a new CEO to replace Louis Camilleri, who retired late last year for personal reasons. His comments suggest views on electrification within the company have evolved since Camilleri resigned.

Camilleri, whose lack of automotive experience made him a somewhat controversial pick in 2018 to run one of the world’s top car brands, expressed doubt throughout his tenure that Ferrari would ditch combustion engines.

“A lot of our customers have difficulty imagining a real Ferrari which is fully electric,” Camilleri said in 2019. Last year, he told analysts he didn’t see Ferrari ever shifting to 100% EVs and ruled out the company reaching 50% in his lifetime.

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