Ferrari, one of the most sought-after performance automakers, is finally dipping its toes into the electric vehicle market. The Italian automaker have announced that it plans to expand the production of new EVs and hybrid models. With the acquisition of land near the existing factory in Maranello, a city in the Province of Modena, EVs and hybrids will be much easier to create. 

Why is Ferrari now just entering the EV game?

Ferrari is a remarkable automaker with a history of creating unique and sought-after performance vehicles. The Italian automaker has long been the choice for shoppers who want the most impressive performance and luxury. More importantly, these models are known for the handbuilt engines that offer intoxicating sound and performance.

With the shift to EVs, a move many mainstream automakers are also making, Ferrari is counting on being able to create performance-focused EVs that offer mind-blowing performance. The new facility will not only be responsible for producing these EVs and hybrids. Still, it will also likely serve as a place to develop unique electric vehicle batteries. This will allow the automaker to carefully create and research the latest technologies giving the upcoming EV models outstanding performance.

The other big reason Ferrari is most likely entering the world of EVs and hybrids is that despite its success, they have seen a dip in the stock price. The Italian automaker understands that the cost to catch up could be high, but knows it will be worth it.

Who is responsible for Ferrari’s entrance into EVs?

With the announcement that Ferrari is entering the world of electric vehicles, the question is, who is responsible for the move? In June of 2021, a new CEO was introduce, Benedetto Vigna. Once he started, he made some big changes to reinvent the brand. One of the most significant moves was creating a partnership with Qualcomm, a chipmaker, to bring more modern technology to the interior of the upcoming models.

Prior to heading up the Italian automaker, Vigna worked for STMicro and was responsible for delivering sensors to Apple, as well as the navigation systems found in many cars. This expertise brought a welcome change and is ready to bring the brand’s technology into a new age.

When can consumers expect a new EV?

With the announcement of a shift toward electric vehicles, consumers are sure to be wondering, when can they can their hands on a new EV supercar? According to Automotive News, consumers should expect an all-new Ferrari EV around 2025. Until then, drivers can enjoy the thrilling performance that the brand is known for.

Additionally, Ferrari is not entirely unfamiliar with electrified vehicles. In 2019, Ferrari first made waves with the introduction of the Ferrari SF90, a plug-in hybrid supercar. This remarkable supercar brought drivers a 4.0-liter turbocharged V8 engine and electric motors to offer unthinkable performance. Furthermore, they followed this model up with the upcoming Ferrari 296 GTB, which used a twin-turbocharged 3.0-lliter V6 engine and an electric motor.

A Ferrari EV is the next step in an electrified future

For drivers looking toward the next chapter of the automotive industry, a new Ferrari EV could sign that the future will be truly electric. This Italian automaker is no stranger to changing the game and innovation. By making this choice, it is saying that the future of the supercar is electric. Therefore, it is time to take the next step into the future. 

Stay tuned because on June 16, 2022, Benedetto Vigna is preparing to announce more strategy surrounding the EV plans for the brand.