Photo: Twitter/@Ferrari
When conversations towards fully electrifying vehicles began a decade ago, Ferrari made a bold statement not to jump on the bandwagon. During a red carpet event in 2011, Luca di Montezemolo, then CEO, said, “You will never see a Ferrari electric because I don’t believe in electric cars.” Now, Ferrari is singing a different tune, and its biggest challenge is electrification.
For the past nine months, Ferrari has been under a new CEO, Benedetto Vigna. Later in the week, during its capital markets day, the top man at the Italian manufacturer will need to undertake a heavy task- explaining how the carmaker will preserve its cachet in a market that’s fast-moving towards electric.
There are several reasons why Ferrari and its close rival Lamborghini are facing difficult times shifting towards electric vehicles. Their reputation revolves around massive, throaty engines, features that lack a future in a fully electric automotive industry.
While the easy task for the new CEO, Vigna, is preparing a roadmap to that weary future, the challenging task is explaining how Ferrari will morph and still retain its top-tier prizes. The automaker also faces the challenge of marrying innovation and old tradition.
The Italian automaker has already presented four hybrid models and promised to go fully electric by 2025. It also announced its first SUV (sports utility vehicle), the Purosangue, in the coming months.
Ferrari’s range has grown to nine models in recent years. The automaker currently has six, eight, twelve-cylinder, a hybrid, and soon, a fully electric engine lineup.
The supercar automaker has bought land near its Maranello plant rumored to be dedicated to producing hybrid and electric cars. The expansion plans include a new battery R&D center.
Marco Santino, a partner for automotive practice at management consultant Oliver Wymans, feels a key challenge in the mid-term is maintaining best-in-class profitability while supporting a unique effort in developing new technology and innovative solutions, Reuters reported.
There are several reasons why Ferrari and its close rival Lamborghini are facing difficult times shifting towards electric vehicles. Their reputation revolves around massive, throaty engines, features that lack a future in a fully electric automotive industry.
While the easy task for the new CEO, Vigna, is preparing a roadmap to that weary future, the challenging task is explaining how Ferrari will morph and still retain its top-tier prizes. The automaker also faces the challenge of marrying innovation and old tradition.
The Italian automaker has already presented four hybrid models and promised to go fully electric by 2025. It also announced its first SUV (sports utility vehicle), the Purosangue, in the coming months.
Ferrari’s range has grown to nine models in recent years. The automaker currently has six, eight, twelve-cylinder, a hybrid, and soon, a fully electric engine lineup.
The supercar automaker has bought land near its Maranello plant rumored to be dedicated to producing hybrid and electric cars. The expansion plans include a new battery R&D center.
Marco Santino, a partner for automotive practice at management consultant Oliver Wymans, feels a key challenge in the mid-term is maintaining best-in-class profitability while supporting a unique effort in developing new technology and innovative solutions, Reuters reported.
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