The timing couldn’t be worse for Ferrari.
The same week it takes the covers of its ground-breaking new all-electric powertrain, Porsche announces its cutting its flagship sports car racing program in order to save money and save face as it faces an uncertain future after committing too hard, too soon to electric vehicles.
But Ferrari looks set to avoid the $9 billion mistake that Porsche made, with the new Ferrari Elettrica set to only play a small, but significant, role in its future plans. Whereas Porsche was set to turn all of its line-up electric with the exception of the 911, Ferrari has vowed to stick with its current mix of petrol-powered and hybrid models.
Revealed as part of its Capital Markets Day 2030 Strategic Plan, Ferrari has said that by the start of the next decade electric cars will only make up 20 per cent of its range. The other 80 per cent will be split evenly between internal combustion and hybrid – which already includes models like the F80 hypercar as well as the 849 Testarossa and 296 GTB.
Ferrari made it clear in its statement that it has no plans to ditch its current internal combustion engines, despite stricter emission standards being introduced in key markets around the world.
“We will continue to offer and innovate our V6, V8 and V12 combustion engines, in line with new global regulations, focusing on increasing specific power output and ensuring compatibility with alternative fuels,” the company said.
Ferrari CEO, Benedetto Vigna, said that embracing new technology, in particular electrification, is key to the brand’s values and heritage. Especially as both Formula 1 and the World Endurance Championship require hybrid cars and are considering synthetic fuel in the near-future.
“Ferrari’s unique positioning lies at the crossroads of heritage, technology and racing,” Vigna said. “Our founder’s teachings, his visionary spirit, his drive to audaciously redefine the limits of possible, and his deeply rooted passion for motor sport all continue to define who we are today and guide our ambitions for the decade ahead. These ambitions are reflected in each of the Company’s souls and will be realized through the dedication of our people and the trust of all our stakeholders.”
Despite the addition of the Elettrica as an all-new model in the range, expanding Ferrari’s line-up alongside the recently-added Purosangue, the brand said it remains committed to Enzo Ferrari’s belief that the company should “sell one car less than the market demands” to retain exclusivity.
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