Ferrari’s first fully electric car model will be launched in year 2025

According to the latest report, Italian automaker Ferrari has accelerated the pace of getting rid of the internal combustion engine. The company will launch its first all-electric model in 2025 and achieve carbon neutrality by 2030.

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Ferrari held a capital market day today, and Ferrari told investors that the company expects adjusted earnings before interest, taxes, depreciation, and amortization in 2026 to climb from last year’s 1.5 billion euros to as high as 2.7 billion euros.

Ferrari’s CEO said the company’s all-electric cars will have the highest power density, derived from Formula 1 experience; the company will design and manufacture its own electric motors, inverters, and battery modules for the new electric models.

The company expects all-electric models to account for 5% of sales in 2025 and 40% in 2030; hybrid models will account for 55% of sales in 2025 and 40% in 2030. The Ferrari CEO also mentioned that 15 new models will be launched between 2023 and 2026.

Moreover, the new Purosangue SUV will not yet be the company’s most valuable product but will be an “interesting” addition to its lineup. Ferrari also said it would expand its Maranello plant to manufacture electric cars and design batteries, confirming previous media reports.

(via)