Ferrari Slashes 2030 Electric Car Plan in Half
Ferrari announced on Thursday that it had halved its electric car target for 2030.
The plan, announced in 2022, put the Italian supercar maker on track for its model offering to be 20% gasoline cars, 40% hybrid cars and 40% fully electric cars. The adjustment, announced during Ferrari’s investor day at its Italian headquarters, brings those figures to 40 percent internal combustion, 40 percent hybrid and 20 percent electric.
“On the one hand, we realized, thanks to the strong need for car customization, that for us, for our company, for our customer, it is important to promote a product of horizontal diversification, a strategy of diversification,” said Benedetto Vigna, CEO of Ferrari. “It is better to have more models with limited volume than a few models with higher volume. This is our strategy. So it means that in this period we have understood that it is important to further increase the number of ICEs and to limit the number of electrics a little.”
The announcement comes the same day the automaker revealed new information about its first fully electric car. The model, called Ferrari Elettrica, will be a four-door vehicle with four electric motors producing more than 1,000 hp. Ferrari designed and will build the car’s motors and batteries in-house in Maranello. The Elettrica will be fully revealed in spring 2026.
“During this year we have spoken with several customers. It is clear that some of our customers will not take Elettrica, [and] other customers who will take the Elettrica. And there are customers who tell us: ‘I will become a Ferrariista if, and only if, you have an Elettrica,'” Vigna said.
Ferrari said it plans to unveil four new cars on average each year between 2026 and 2030. The automaker does not intend to introduce a second electric vehicle until 2028, Reuters reports.
“The Elettrica is a new dimension for us, a new opportunity for us, and we will continue to grow in this area,” Vigna said.
With Thursday’s announcement, Ferrari joins the long list of automakers that have abandoned or delayed their electric vehicle plans. These companies include Aston Martin, Lamborghini, Land Rover, etc.
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