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Ferrari Takes a Forward Leap with Plans for an All-Electric Car

Image Source: Pixabay

From Justluxe Content Partner CarExpert.

Surprising as it may sound, Ferrari is making its way into the electric car arena by planning to unveil an all-electric car in 2025.

John Elkann, the acting Ferrari CEO, solidified this plan in the recently published annual report by the Prancing Horse.

In 2019, the former CEO, Louis Camilleri, mentioned that Ferrari would not introduce an electric car until after 2025 due to concerns related to range and charging times. However, these apprehensions seem to have been addressed or disregarded.

The introduction of Ferrari’s first all-electric model is expected to provoke mixed reactions among enthusiasts who cherish the traditional sound and emotional connection of a V8 or V12 engine.

The exact nature of this initial electric Ferrari remains uncertain, but there are suggestions that it might be a performance-oriented model rather than a practical one.

Mr. Elkann hinted at the significance of this milestone in Ferrari’s history by stating, “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,” raising expectations that the Ferrari EV will belong to the hypercar category.

The electric vehicle will be a fundamental element of Ferrari’s “highly disciplined” electrification strategy, which commenced with hybrid systems inspired by motorsport to enhance performance and reduce carbon emissions, and later evolved to the plug-in hybrid SF90 range.

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The upcoming years will witness significant transformations in Ferrari’s lineup, with the noteworthy addition of the Purosangue. This model will mark Ferrari’s debut in the crossover segment, being the first series-production vehicle with more than two passenger doors.

While this departure from its traditional sports car origins might be a difficult pill for fans to swallow, Porsche and Lamborghini have demonstrated that such diversification does not diminish the allure of a performance-oriented brand significantly and can, in fact, boost profits.

In its annual report, Ferrari indicated that it sold 9119 cars in 2020, a decrease of approximately 10 percent from the 2019 figures. Despite this, the Maranello company recorded a robust profit of €534 million ($834 million). The decline of 23.5 percent compared to 2019 was largely attributed to tax and accounting modifications in Italy.

Image Source: Pixabay

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