At a time when even Lamborghini recognized the death of its purely internal combustion engine holds, you’d be forgiven for assuming that Ferrari, too, would make an imminent bid short of a hybrid goodbye. Not enough.
The latest Maranello Investor Day indeed brought the promise of Ferrari’s first fully battery-electric battery, due by 2025, according to Reuters. However, there was no roadmap for electrifying the rest of the stable; no commitment to bait the market to end the products the Prancing Horse makes best, thank goodness.
That doesn’t mean Ferrari doesn’t think long and hard on EVs, and preparing its assembly lines for them in the background. The brand hopes electric vehicles will contribute 40% of its overall sales mix by the end of the decade. He just doesn’t want them dominating the conversation again. From Reuters:
According to a source familiar with Ferrari’s business plans, a new production line focused on electric vehicles (EVs) is expected to help boost annual production at its factory in Maranello, Italy, by more than 35% to more than 15 000 cars by 2025 versus 11,155 in 2021 – or 65 cars per day versus 46 currently – delivering higher profit margins in the process.
Ferrari declined to comment.
The automaker has told investors it is targeting a core profit margin (EBITDA) of 38-40% in 2026, up from 35.9% in 2021.
Its range could also increase to at least 17 models by 2026, compared to 12 today. But most new models will, at least initially, have a combustion engine – including its first SUV, the Purosangue, powered by its massive 12-cylinder engine – although some may be hybrids.
Ferrari currently has four plug-in hybrids in its lineup.
These four PHEVs, in case you need a reminder, are the SF90 and 296 in their respective coupe and convertible variants. The SF90 can go up to 8 miles on pure electric power, while the 296 nearly doubles that to 15. So yeah – while they’re technically plug-in hybrids, it’s not certain that they’ll cover your daily commute in the same way as, say, a RAV4 Premier will be. A tank for the working class, these Ferraris are not. Go figure.
What Ferrari is really waiting for – in fact, what this whole industry is desperately anticipating with mouths full of foam – is the commercialization of solid-state batteries, which will theoretically offer better range for less mass penalty. .
Ferrari can afford to take its time here, because it’s a fucking Ferrari and it does what it wants (except fit on SUVs, Apparently). In stark contrast, Lamborghini is probably more suited to EVs now because 1) it’s chained to Volkswagen, which has made electrification its entire brand and 2) lightness is almost never Lamborghini’s MO.
But Maranello will not be able to pass indefinitely. The EU is fish to ban sales of new gas-powered cars in 2035; vehicles with synthetic and carbon-neutral fuels are in the air, and Ferrari may get a slight grace period because it produces so few units per year. For the moment, V12 is safe.