Ferrari is preparing to add electric vehicles to its lineup starting in 2025, and CEO Benedetto Vegana will announce on Thursday a new strategy outlining the company’s electrification plan for the next decade.
According to some BloombergAccordingly, part of the plan includes a large expansion of Ferrari’s plant and headquarters in Maranello, Italy, to support the production of electric vehicles.
Citing three people familiar with the plan, Bloomberg reported last week that Ferrari had purchased land adjacent to its plant, which would eventually be used for a battery R&D center alongside a third production line dedicated to EVs and hybrids.
Ferrari chairman John Elkan confirmed last year that an EV would be launched in 2025 The first Ferrari EV is expected to be an SUV, but the leaked patent drawing suggests that Ferrari is also planning an electric supercar. As the European Union moves to ban the sale of vehicles with an internal-combustion engine, including hybrids, by 2035, Ferrari may have very few options.
The new strategy will be announced this week, the first of the new CEO Vigna. A veteran in the semiconductor industry, Vigna joined Ferrari last autumn and was tasked with helping the company build its expertise in electrification and connectivity while away from focus on larger engines.