Ferrari Plans for 80% Battery EV Sales by the Year 2030

Luxury automaker Ferrari is aiming to become a big player in the electric vehicle race.

At Thursday’s Capital Market Day, the Italian luxury sports car maker’s CEO Benedetto Vigna outlined Ferrari’s 2022-2026 strategic plan and transition to an electric vehicle (EV) future, targeting 80% of sales by 2030 to be battery electric (both hybrid and fully electric).

The company is planning 15 new product launches between 2023 and 2026, including its Purosangue SUV, which will be unveiled in September of this year. Ferrari also confirmed its first-ever full electric car will be unveiled in 2025.

By 2026 Ferrari says its product portfolio will be 40% ICE (internal combustion), and 60% battery electric vehicles (both hybrid and full electric).

Ferrari also said ICE engines are still a part of the company’s game plan, and will evolve those powertrains going forward.

By 2030, Ferrari sees the evolution of hybrid and full-electric powertrains going full bore, with the company promising 80% of its sales being battery electric (40% hybrid, 40% full-electric), with the remaining 20% powered by ICE.

“We believe we can use the electric engine to enhance the performance of our cars,” CEO Benedetto Vigna added.

Ferrari says its electric engines will be “designed, handcrafted and assembled in Maranello, to ensure a unique driving experience also derived from racing solutions,” but that battery cells and other non-core parts will be purchased from suppliers.

The company aims to be fully carbon neutral in its operations by 2030.

“No customer is going to spend money for the computer in the car to enjoy the drive,” Vigna said in an interview with Bloomberg. “The value of the man, of the human at the center, is fundamental.”

Disclaimer: We have no position in any of the companies mentioned and have not been compensated for this article.