Ferrari is set to make history with the launch of its first fully electric vehicle (EV) in October, marking a significant shift for the luxury sports car manufacturer known for its roaring petrol engines. The much-anticipated EV will be unveiled at a capital markets day event on October 9 at the company’s Maranello headquarters in Italy, CEO Benedetto Vigna announced.
While Vigna did not disclose specific details about the EV, he emphasized that the launch would be carried out “in a unique and innovative way.” The electric model will be one of six new vehicles Ferrari plans to introduce this year as it continues to expand its lineup. The move comes after the company successfully integrated hybrid technology into its models, with hybrids accounting for 51% of Ferrari’s total car sales in 2023.
Ferrari’s commitment to electrification reflects broader trends in the automotive industry, where luxury brands are increasingly embracing EV technology. The company’s decision to enter the electric market aligns with growing consumer demand for high-performance electric vehicles and stricter global emissions regulations. Additionally, China—where EVs are particularly popular—presents a lucrative opportunity for Ferrari’s new model, especially given lower taxes on electric vehicles compared to traditional petrol-powered cars.
Despite concerns over potential trade policies under a new Trump administration in the United States, Ferrari remains confident in its plans. “Our strategy and product roadmap will not be affected by the policies of the Trump administration or by the risk of a trade war,” Vigna confirmed.
Beyond its EV expansion, Ferrari continues to experience strong financial growth. The company reported a 12% rise in EBITDA (earnings before interest, taxes, depreciation, and amortization) for 2024, driven by high demand, a strong product mix, and customization options that allow customers to personalize their vehicles. Ferrari forecasts its EBITDA will reach at least €2.68 billion ($2.77 billion) in 2025, up from €2.56 billion in 2024.
Luxury personalization remains a key revenue driver for Ferrari, with customized features—such as unique paint finishes, liveries, and carbon fiber elements—contributing to approximately 20% of total revenues in 2024. The trend is expected to continue into 2025, according to Ferrari’s CFO, Antonio Picca Piccon.
The Italian automaker also reported an increase in deliveries to U.S. clients in 2024 but has no plans to accelerate shipments to avoid potential future tariffs. Meanwhile, Ferrari maintains a delivery cap of 10% for the Chinese market, a policy that may be reconsidered following the EV launch. Any adjustments to this strategy will be announced at the October event, Vigna said.
With its first fully electric supercar on the horizon and continued financial growth, Ferrari is positioning itself as a key player in the evolving luxury EV market. The October unveiling will mark a pivotal moment in the brand’s history, as it adapts to the changing landscape of high-performance automotive engineering.